After the #GeorgeFloyd killing, health insurance companies are putting out vague, carefully-worded statements touting their “support” for racial equity. As a former insurance exec, here’s the truth about their “commitment” to the issue, that they don’t want you to know... (1/9) 
For health insurers, equality is a buzzword. They're in business, first & foremost, to make money, & their most important goal is to reward shareholders. I know this from years of handling financial communicators & working closely with my company’s investor relations team. (2/9)
You may see insurers tout “donations” from their foundations to social justice organizations this week -- often for a large-sounding sum like $5 million. But remember, companies like UnitedHealth report revenues of $262 BILLION a year. The donations are a tiny PR expense. (3/9)
As for commitment to racial equality, UnitedHealth & most other big for-profit insurers quickly left the Obamacare-created “marketplaces” that reduced racial disparities in health insurance. The reason: they couldn’t turn a profit fast enough to satisfy their shareholders. (4/9)
Those companies also tried to kill Obamacare or shape it to their liking (which they did). Meanwhile, the C-suite of the big insurers are largely white & male & very highly compensated. Of UnitedHealth’s 7 highest-paid execs last year, all are white. (5/9) www1.salary.com/UNITEDHEALTH-G…
While they issue statements about racial justice, health insurers are funding a front group called Partnership for America’s Health Care Future to defeat reforms like Medicare for All or Joe Biden’s public option, that would greatly reduce racial disparities in health care. (6/9)
This front group calls Medicare for All (and the Biden public option) “one-size-fits-all health care,” a dog-whistle to privileged white people that a health care system in which everybody would have the same benefits, can’t be good enough for them. (7/9) americashealthcarefuture.org/about-us/
Here’s maybe the most revealing fact about how health insurance corporations really see the current climate in America: They’re reaping massive profits this year. In the middle of a pandemic that’s devastating communities of color. (8/9) latimes.com/business/story…
In short, while these corporations post tweets about supporting racial justice, look at what they actually *do*. From policies they lobby for, to their profit schemes, to who runs their companies, one thing is clear:
Their PR statements are just that: PR spin. (/END.)
Their PR statements are just that: PR spin. (/END.)
