Michael Steele believes strongly in the sanctity of the relationship between the client and his insurance company. Michelle Bachmann is outraged that we may lower the cost of insurance by not preserving this most holy and blessed of monopolies.
And why not, after all:
For the quarter ended June 30, UnitedHealth [based in Minnetonka, MN] said net earnings were $859 million — a 154.9 percent increase from $337 million a year earlier, when earnings were dragged down by big lawsuit settlement costs.
Earnings per share jumped to 73 cents from 27 cents a year earlier. Analysts had forecast 70 cents. Quarterly revenue was up slightly, to $21.7 billion from $20.3 billion.
Hmmm, big lawsuit settlement costs? Oh yeah, because United Healthcare used wholly-owned subsidiaries to screw over their clients in the name of profit. Woo-hoo free marketplace.
"We would characterize this quarter as solid with strong execution," said chief executive Stephen Hemsley.
Strong execution? Well, that’s one way of describing denying coverage I guess.