Well color me shocked to learn that AARP is actively engaged in the practice of screwing its membership for profit. I have suspected for years that the self proclaimed largest senior advocacy group was nothing more than an organization designed to remove the limited funds available of people on a fixed income from those very people they profess to care about. According to a Congressional Investigation, (of course performed after the adults who are actually interested in their Constitutional responsibilities gained control of the House,) AARP will be making a $1 Billion profit off of the Obamacare Law. Well, don’t act so surprised. After all, $1 Trillion being stolen from the taxpayers of this country had to go somewhere, and why not to AARP. For those of you who don’t know, AARP is nothing more than a collection of retired union thugs preying upon senior citizens for the express purpose of continuing their nefarious preretirement thuggery. After all, why should they give up the extortion, racketeering, and political bribery just because they are enjoying their golden years. The Obamacare debate prompted 60,000 former AARP members to cancel their memberships, (upon realizing what AARP was really all about,) but what is 60,000 people leaving your ranks next to $1 Billion.
AARP is in fact turning a nice profit on many of its endorsement deals. It is doing so well in fact that its tax exempt status is in question. AARP uses its perception as a senior advocacy group to hawk insurance products to its membership. Insurance companies pay a fee to be the product selected by AARP to be recommended to its membership. They recommend a variety of Medigap, Long Term Care, Health and Life policies. In 2009, AARP reported $657 Million in endorsement revenue. This alone should qualify AARP as a for profit insurance agency.
Here are some excerpts from the article linked to above:
President Obama told a town meeting in Portsmouth, N.H., “We have the AARP on board because they know this is a good deal for our seniors.” Now a new report released by GOP members on the House Ways and Means Committee, “Behind the Veil: The AARP America Doesn’t Know,” says the AARP may have been on board simply because it was a good deal for it.
The report by House Ways and Means Committee members Wally Herger, R-Calif., and Dave Reichert, R-Wash., compiles the results of a yearlong investigation. It notes that as a result of the health care law, the Obama administration estimates more than 7 million seniors will lose their current Medicare Advantage plan and that AARP stands to benefit handsomely from that fact and the law it lobbied for through the sale of its competing, endorsed Medicare insurance products.
Royalties from licensing the use of AARP’s name earned $657 million for the organization in 2009, some 46% of its total revenue vs. just 17% from membership dues. Since 2002, income derived from AARP’s business relationships, primarily with insurance companies, has nearly tripled, increasing by $417 million.
The millions forced by ObamaCare to lose the Medicare Advantage coverage will result, the report says “in a massive migration of seniors to Medigap plans. AARP is the nation’s leading provider of Medigap plans and has a contract in which AARP financially gains for every additional Medigap enrollee. “
My favorite part of this whole thing is that AARP is the nations leading provider of Medigap plans. The Obamacare law will effectively establish AARP as a government approved monopoly for those plans, with AARP’s executives receiving about $1 Billion for their troubles. Not a bad deal for a senior advocacy group, is it?
Crossposted at Musings of a Mad Conservative.
UPDATE: Steven Crowder is plugging a website to ask for your very own waiver to the new Obamacare Law. Absolutely hilarious, be the first non union member on your block to be excused from this sink hole of a law. Don’t be the last one holding the bag.
