Insurance Companies Profiteering from WC Premiums In Iraq.........

[chrischris]

I know this is a lot of info, but if you google "defense Insurance report" or something similiar, you will find many news reports today that accuse four major insurance companies from profiteering from premiums paid by our government (that's our taxes folks). The majority of profits (80%) are going to AIG.

Over the 5 years we've been in Iraq and Afganistan, the four insurance companies mentioned have profited some $600 MILLION dollars in premiums paid to cover WC for injuries sustained. Many of these that are truly injured have to fight for their benefits.

An investigation is being conducted.

http://www.foxnews.com/story/0,2933,356058,00.html

[Still in Limbo]

Thanks for the Info. CC. I Bookmarked it to look at Later!

[tweety00]

Wow and its the one I get to deal with ...

[red1030]

CC that was really good information. I made the site a favorite and bookmarked the article. This is just awlful, but maybe it could bring some media attention to what is happening here also. love Red

[chrischris]

Red, I had the same thought. I hope the congressional hearing opens some eyes to what the I/C's are doing, or should I say "not doing." I agree that anyone in business is in it for a profit, but not when the profits are killing people.

My husband and I were talking about this tonight and said we should start up an Insurance Company and put the WWJD sign on all our adjusters desks and make sure that our business was run ethically. I can guarantee you we would still make a good profit, but would also be able to sleep at night knowing it wasn't blood money.

Sorry for the rambling, my meds are in full force. Time for neck heating pad (feels like heaven) and then to bed. Going to have a fun day tomorrow with a girl friend who is taking a day off to take me on a day trip. God Bless our friends, and when you are injured and out of work as a result, you quickly find out who your friends are and who deserts you. Nighty nite all! LOL!

[1171]

here is a link to a list of documents the news report was based on.
scroll to the bottom of the page for a listing of supporting memos & testimony
http://oversight.house.gov/story.asp?ID=1944


In addition to profiteering which is common to all wars is how inadequately prepared the workers comp insurance system is to handle the unique injuries and conditions of those injured as a result of war.
there is a companion report (78 pages) on the treatment issues.

http://armedservices.house.gov/pdfs/Repo...Report.pdf

[chrischris]

1171 Wrote:
here is a link to a list of documents the news report was based on.
scroll to the bottom of the page for a listing of supporting memos & testimony
http://oversight.house.gov/story.asp?ID=1944


In addition to profiteering which is common to all wars is how inadequately prepared the workers comp insurance system is to handle the unique injuries and conditions of those injured as a result of war.
there is a companion report (78 pages) on the treatment issues.

http://armedservices.house.gov/pdfs/Repo...Report.pdf

It doesn't look like much attention was paid to how WC was being managed until it was recently discovered how mismanaged the whole program was. War IW's were in charge or filing their own claims??? They had no one to ask or help them obtain medical care, except for the obvious emergency care.

Like I said, I hope this opens some eyes.

By reading these reports, it looks like the WAR IW's have the same problems as the Civilian IW's.

So is it our Government's fault that the IC's are profiteering? and if so, what if anything can be done about it? It makes my skin crawl thinking we as taxpayers are paying AIG executives more than they are paying out to the WAR IW's. I think it's too late to fix the system as it is and it's too late to scrap it and start over, so what do we do? Ugh!