Health Insurers' Fast Food Holdings Raise Flag

(didnt know where to put this thread...........feel free to move it somewhere better suited)

http://www.cbsnews.com/stories/2010/04/15/health/main6400285.shtml

CBS) The investments of large insurers of health, disability and long term care in fast food chains like McDonald's and Pizza Hut have raised the interest of a study in the American Journal of Public Health, reports CBS Radio News' John Hartge.

The Harvard Medical School's Dr. Wesley Boyd, an author of the study, finds it ironic that these firms would invest nearly $2 billion in companies that sell food often linked to obesity and cardiovascular disease.

"The insurance industry, so far as it seeks to make a profit, it does so in an amoral way," Boyd said.

Boyd said health insurers should be held to higher corporate standards.

Among big investors in fast food companies are life and disability insurers, like Prudential Financial, Northwestern Mutual and Massachusetts Mutual.

According to the study, Northwestern Mutual owns $422.2 million in fast-food stock, with $318.1 million invested in McDonald's. Massachusetts Mutual owns $366.5 million of fast-food stock, including $267.2 in McDonald's.

Holland-based ING, an investment firm that also offers life and disability insurance, has total fast-food holdings of $406.1 million, including $12.3 million in Jack in the Box, $311 million in McDonald's, and $82.1 million in Yum! Brands, which owns Pizza Hut, KFC and Taco Bell.

New Jersey-based Prudential Financial Inc. sells life insurance and long-term disability coverage. With total fast-food holdings of $355.5 million, Prudential Financial owns $197.2 of stock in McDonald's and also has significant stakes in Burger King, Jack-in-the-Box and Yum! Brands.

The authors write that the recent passage of health care reform will likely expand the reach of the insurance industry, arguing that if insurers are to play a greater role in health care that they should be held to a higher standard of corporate responsibility

 

Amoral is correct. Medical insurance companies need to go the way of 8 tracks and typewriters. I'm sure the legislators hate it intensly when single payer is mentioned because of the loot they get from the crooked ,heartless bastards.

 

This is a silly statement. Shouldn't all corporations and people have high moral standards?

What about McDonald's standards? They're the ones selling this stuff.

 

Start with those that have control of peoples health which Mcdonalds doesn't have. You pay money and then get refused because of some bullshit such as "experimental treatment"-sorry -can't cover you. --immoral,I say. You don't have to pay monthly to Mcdonalds for a service.You just have to use your brain to stay away from their crap.

 

It's just a small matter of conflict of interest, oh, go ahead and supersize my order.

 

But I am happy weighing 700lb and eating McDonalds every day.

 

Higher standards?

Health Insurers Investment funds have to do with return on investment.

There is no responsibility of an investment fund, other than to make money.

The insurers know this.

They have all the numbers about obesity and death.

They can see current trends.

Is government now going to enforce morality now?

There are no corporate standards.

Insurers have basically been fucking people without accountability for years.

This is nothing.

 

I'd still argue that the burden lies on the people eating fast food. Like Unknown said, it's not up to the government or health insurance companies or anybody else to make sure that we live a healthy lifestyle. That's our decision, and if we choose to eat crap, the consequences are our responsibility.

 

i don't see what the problem is...

 

Immoral, perhaps but consider asking the shareholders and the policy holders. The shareholders demand a rate of return and the policy holders do not wish an increase in rates so that the shareholders are paid.

The underwriting of policies is done on actuary table so that if you have a lifestyle that is probable to cause early pay out on your insurance, you pay a higher premium. Not any different than those who underwrite automobile insurance or home insurance. You have a driving record that is not satisfactory, your premiums reflect that. You are not located near a fire department or hydrant it is pro ratio and built into your premiums. You have are a smoker the premium is higher.

The problem with insurance companies not covering some expenses (especially medical) is often linked directly back to the government as they refuse to allow those same treatments to be covered. If you are for example on a clinical study if the drug company does not pay for it you have to be approved by the government to be covered for it, or pay for it yourself. It is an asinine system. You can get approval for a treatment that is thousands of dollars a month but if you develop a cough as a side effect you can not get a prescription covered.

Profit is profit and no one invests to not make one. In life my portfolio may hold stock that some might consider unethical (even in drug companies) but I invest to make a profit. The investments of my children do not hold unethical stock.

The ultimate responsibility for what we stick down our gullets is ours. It can not be legislated nor should it be. The choice is up to each person. They have banned in the school that my kids go to all vending machines and most of the so called junk food in the cafeteria. They are in high school and the store is about a 10 minute walk away. Instead the focus needs to be on a lifestyle that is healthy...........eating, exercise, moderation.

Without profit, no one stays in business. Be it a small business or a conglomerate.

 

They just brought out this new thing here at McDonalds called teh family pack

I don't want to live in the worlds fattest country. Life expectancy is going to drop heaaaaps.

 

Yeah and the mofo's don't sell it after 11:00 pm

Of course, i'm pretty skinny and eat salads a lot, i'm more worried about being a smoker.

 

they don't have the family pack here.

what does it entail?

 

I think it is one quater pounder, one Big Mac, two cheese burgers, 4 small cokes and family pack of fries.

And than there is the M selections family pack.

 

And then there is the McD Big Mother Effer.

Anyone seen that video on youtube?

.

 

i heard there were also nuggets in there too

 

I'd be more concerned about supermarkets sharing with insurers your purchase history using their discount cards.

Source

 

As a society we tend to not want to know. The data bases on every person if used by anyone unscrupulous would have such an impact on our lives. Um assuming that it is not already done all the time.

Swipe, anyone?

 

Our reluctance to know is working very much in the favor of government and corporate entities... and it's getting difficult to discern any difference between the two.

 

I do not think that there is any difference, not when it comes to information sharing. Even with the new privacy standards it does not exist. The fine line of privacy is no longer in existence and with the increasing technology and the bottom lines of both governments and business blurred, all information is a target.

Something as basic as filling out your census form, while confidential and a legal requirement, is shared. The data is compiled and while names are not available, data is. Perfect target groups.

It is even as basic as how many images of you are floating about from surveillance cameras that are intended to be used for so called good.

Privacy is an illusion.