U.S. Heath Insurers Heavily Invested In Tobacco Companies

[Hissyspit]

Canadian, US, UK life, health insurers investing heavily in tobacco companies

The Province
British Columbia
June 5, 2009

http://www.theprovince.com/Health/Canadian+life+health+insurers+investing+heavily+tobacco+companies/1664704/story.html

Major U.S., Canadian and British life and health insurance companies have billions of dollars invested in tobacco companies, says a study published in the New England Journal of Medicine.

Wesley Boyd, the study's lead author, found that at least $4.4 billion US in insurance company funds are invested in companies whose affiliates produce cigarettes, cigars and chewing tobacco. "Despite calls upon the insurance industry to get out of the tobacco business by physicians and others, insurers continue to put their profits above people's health," said Boyd, a faculty member of Harvard Medical School. "It's clear their top priority is making money, not safeguarding people's well-being," he wrote.

Tobacco is considered the leading cause of lung cancer and a major risk factor for heart attack, stroke, pulmonary disease and cancer. According to the World Health Organization, it is a contributing factor in 5.4 million deaths a year.

Researchers first revealed that health and life insurance companies had major investments in tobacco companies in 1995 in an article in the British medical journal Lancet.

- snip -

According to the study, U.S. insurer Prudential Financial Inc. has $264.3 million invested among three U.S. tobacco companies, including Reynolds America and Philip Morris.

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[muntrv]

1. Health insurers want the tobacco companies to reduce the number of policy holders

through smoking deaths.:tinfoilhat:

[BlooInBloo]

2. Great business plan... if you're a complete asshole...

Step 1: MAKE money from Joe Smoker, by investing in the company that Joe Smoker pays.
Step 2: SAVE money from Joe Smoker, by refusing to insure him (won't insure smokers, preexisting condition, etc.)
Step 3: ???
Step 4: PROFIT!


Summary: Joe Smoker is PAYING insurance companies to NOT insure him!

Those slick, evil motherfuckers.

[varelse]

3. Is profit the god of the 21st century?

"Although investing in tobacco while selling life or health insurance may seem self-defeating, insurance firms have figured out ways to profit from both," Boyd wrote.

"Insurers exclude smokers from coverage or, more commonly, charge them higher premiums. Insurers profit -- and smokers lose -- twice over."

It seems to be sacred where every other value is expendable. What the hell is wrong with us?

[TahitiNut]

4. Insurance companies have enormous reserves. They have to invest them SOMEWHERE.

Never forget that part of the power that insurance companies wield is an enormous influence on the stock market. They can "bigfoot" a company easily for not playing ball.

[Dr.Phool]

5. They get a bigger return investing in Congressmen and Senators.

[Cleita]

6. K&R

[arcadian]

7. My guillotine company will be going public soon and I need investors.

We need a fucking Revolution.

[blue neen]

8. So that's why most health insurance companies will not pay for Chantix.

Chantix is a very effective medication that blocks the brain from "enjoying" smoking. It's a fricking joke that this medication has been on the market for over two years and health insurance don't want to cover it.

They will however, cover the Viagra for men who can no longer get it up because their blood vessels are destroyed from years of smoking. But, but, but---they'll only cover 6 Viagra pills a month. What executive in his castle decided you're allowed to take 6 jumps a month? And the hell with you if you're a woman--they won't cover it at all!

It all makes so much sense, doesn't it? :grr:

[cabluedem]

9. Chantix isnt a quick fix for smoking. I went off cigs cold turkey 29 years ago. nt

[blue neen]

10. I didn't really say it was a quick fix...I said that it's effective.

You showed a lot of stamina by going cold turkey. Congratulations on being smoke free! :)


The process of using Chantix actually takes 4 to 5 months. Some people have found it to be very helpful in keeping them off cigarettes. The relapse rate has been lower than with other methods.