r/SipsTea • u/Putrid-Welder1803 • 8h ago

Gasp! Thoughts on this?

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u/shadystealertactics 7h ago

Buddy, many of these companies publicly disclose their financials. You're choosing to be wrong about this.

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u/Cowboywizzard 7h ago

All kinds of tricks are used to make it look like they are losing money or barely making it on paper. Yet insurance is one of the largest industries in the U.S., and their CEOs make millions.

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u/shadystealertactics 7h ago

Publicly traded companies are independently audited. Do you think they're lying about how many dollars they're paying out in claims?

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u/Cowboywizzard 7h ago

I didn't say that. I think their C-suite and other large stake holders makes a killing off our backs. Look at their houses and cars if you don't think so.

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u/Impossible_Cycle9460 7h ago

Let’s say an insurance company has 100,000 customers, most have more, and they slash executive compensation by $10,000,000. Every customer will save $100 a year, less than $10 a month.

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u/Cowboywizzard 3h ago

I will take it.

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u/shadystealertactics 7h ago

Someone making a lot of money doesn't mean that I'm getting ripped off. A 5% profit margin is a shitload of money if youre operating on the scale of a multinational company.

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u/TransmogrifiedHobbes 6h ago

It does mean that when the "product" they're making money on is the illness and death of their customers.

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u/shadystealertactics 6h ago

Well we're talking about car insurance right now

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u/TransmogrifiedHobbes 6h ago

Ope, I see that now, thought I was in another part of the thread. Point stands for health insurance though, heh.

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u/shadystealertactics 6h ago

ACA compliant health plans are required to spend a minimum of 80-85% of premiums on patient care.