More than you'd ever imagine.
The AARP provided a big chunk of the $121 million spent on ads supporting the bill's passage, as well as $21 million on lobbying in 2009, according to the Center for Responsive Politics. HHS's proposed regulations on Dec. 21 exempted the AARP's lucrative "Medigap" plans from the rate review and other mandates and requirements.
The AARP and other Medigap providers can require a waiting period before seniors with pre-existing conditions have to be covered. Insurers covering those under 65 cannot.
The AARP is also exempt from the new law's $500,000 cap on executive compensation for insurance executives. (The nonprofit's last CEO received over $1.5 million in compensation in his last full year, 2009.) It won't pay any of the estimated $14 billion in new taxes on insurance companies, though according to its 2008 consolidated financial statement, it gets more money from its insurance offerings than it does from dues, grants and private contributions combined. Nor will it have to spend at least 85% of its Medigap premium dollars on medical claims, as Medicare Advantage plans must do; the AARP will be held to a far less restrictive 65%. --K Rove in the WSJI believe that the term "corruption" is applicable here, as Rep. Issa has suggested.
Didn't Pharma get some kind of deal for supporting insurance reform, too? The sleazebags!
ReplyDeleteKarl Rove has zero credibility when it comes to reporting "corruption".
ReplyDeleteSort of Jim.
ReplyDeletePharma originally cut a deal to support ObamaCare with Obama, but then got demonized and screwed in the actual legislation along with the medical device manufactureres. (i.e - taxing that pacemaker and replacement knee)
AARP and the Unions actually got the deals.