Posts Tagged ‘insurance’

Aflac’s Dan Amos Tells Columbus Rotarians…

April 13, 2011

The Japanese earthquake will not have an impact on this year’s earnings growth. Also, he said the people of Japan are not in panic. He said 75 percent of Aflac’s earnings come from Japan.

He said impact of the nuclear power plant crisis is something no one knows.

He is still speaking as I post this via iPhone.

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He’s finished and I’m back home at my computer.

My 2011 Aflac stuffed duck, which was in the seat of my table chair at the Rotary Club of Columbus meeting.

 

What is clear to me after hearing his talk is that he and his marketing folks really know how to make the most of situations that could be bad.  He and Aflac got a tremendous amount of positive national exposure from two crises, the Japanese earthquake and tsunami and the dismissal of Gilbert Gottfried as the voice of  the  Aflac duck because of insensitive jokes he tweeted about the Japanese earthquake.

 

The networks and news channels interviewed Amos right after the quake and tsunami because they knew of Aflac’s commercial ties with Japan.  And the firing of Gottfried generated over 8 thousand news stories, and lots of play by late night TV comedians.  The search for a new voice has drawn eleven thousands entries and gotten a lot of news coverage.

In referring to the CBS news story that called the Aflac duck the most famous in the world,  Amos said, “Eat your heart out Donald Duck.”

Every time he speaks to the Rotary club Aflac puts stuffed ducks at every plate.  I have gotten a number of them over the years and, of course, gave them all to children I know. I’m not sure who I’ll give this one to  because  I’ve run out of little children.  Anybody want a quacking Aflac duck?

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What Does the Future Hold for Today’s Medical School Graduates?

June 22, 2009

That was certainly on the mind of medical school graduates at a graduation ceremony I attended at Sunrise, a Fort Lauderdale suburb. My grand-nephew, Dr. Gibson Gray, was one of the graduates from Nova Southeastern University.  Keynote speaker, Florida U.S. Rep. Debbie Wasserman Schultz, told them about the healthcare changes she supports.

Being a good Democrat, she made it clear that she supports President Obama’s initiative for Congress to come up with a new health care plan.  With costs going out of sight, and about 50 million Americans being uninsured, many believe something has to be done – not that everyone wants anything done, because some are making out like bandits with the system the way it is – but the sticking point is what will be done.

Rep. Debbie Wasserman Schultz, FL (D),  Nova medical college keynote speaker, Ft. Lauderdale, FL.

Rep. Debbie Wasserman Schultz, FL (D), Nova medical college keynote speaker, Ft. Lauderdale, FL.

 
Rep. Schultz says any new plan has to ensure that no one will be denied coverage, that no policy should deny coverage because of pre-existing conditions,  that no one can be excluded from coverage, and no one looses coverage because they changed jobs, and that the government offer an optional insurance plan.  The insurance companies will, no doubt, spend many millions of dollars to kill the government option part of the plan.  The government plan would provide competition by providing lower rates, and the private insurance companies would have to keep their rates down to sell any insurance.

This can and will be debated, but a lot of people believe that the plan will not really solve the problem because it will still rely on private insurers.  Among those who believe it won’t work and who are for single-payer is the organization  Physicians for a National Health Program.  They believe that only single-payer can actually cause the change needed.  They maintain the private insurance industry is the reason that  health care in America has reached this critical stage.  On their website, PNHP.org, Dr. Fred Silver of Florida says, “This is because private insurance bureaucracy and paperwork consume one-third (31 percent) of every health care dollar. Streamlining payment through a single nonprofit payer would save more than $350 billion per year, enough to provide comprehensive, high-quality coverage for all Americans.”  Physicians for a National Health Program is a non-profit research and education organization of 16,000 physicians, medical students and health professionals who support single-payer national health insurance.

Naturally, health professionals are concerned about how healthcare reform will affect their careers, especially recent grads who owe hundreds of thousands of dollars in college loans.  Some believe that if the government plan does lower physician compensation, it should pay off those loans.  They have a good point. 

It appears there is little doubt that Congress will come up with some sort of healthcare reform legislation.  It also appears that the healthcare industry is going to cooperate, with health industry leaders pledging to reduce  healthcare spending by $2 trillion over the next ten years.  And the pharmaceutical  industry has agreed to spend $80 billion over the next decade to lower drug costs.  Reform is probably preferable to revolution,  and, no doubt, many drug industry leaders would consider a single-pay system a revolution.  It would be.  
 
 

The Fruits of Ignoring the Economic Lessons of the Past

September 18, 2008

    Now we are staring the big green monster in the eye and seeing what Mr. Greed can do to us…again. Mr. Greed has been very successful in transferring billions of our tax dollars into his coffers, and he continues to get away with it.

  He took big lending risks in order to rake in big profits, and he did. Now his risky practices have come a cropper and he is being bailed out with our tax dollars. Some of his mammoth financial institutions are now nationalized, but what does he care? He’s already transferred the billions he has made, including golden parachute millions, into Swiss bank accounts.

  How did this happen? Simple. Deregulation. He was able to change the government’s rules in order to take big chances with other people’s money.

  Yes, history does repeat itself, mainly because some do not take heed of what happened in the past. What happened in 1929 is happening right now. Easy credit and risky loans encouraged consumers to go deeply into debt.  When consumers stopped buying in order to make payments on their loans, demand plumeted, businesses failed, out of work consumers defaulted on debts and financial  institutions went under.

  This Great Depression caused a rebirth of government regulations to prevent this disaster from happening again. But, the deregulators took  power again, and here we go again.

  I said the rebirth of regulations because they really started in earnest in 1906 when Republican President Teddy Roosevelt decided to take on big business, breaking up a lot of monopolies. The pro-monoply crowd regained power and we’ve had a lot of mergers in the last few decades. So, in that area, here we go again, also.

  The powers that  be are now trying to prevent another depression by having the  government step in and bail out the banks and those who insure loans. Let’s hope it works. This didn’t have to happen, though. Poper regulation could have prevented it.

  Santayana and Anonymous got it right when they said:

  “Those who cannot learn from history are doomed to repeat it.”
George Santayana 
 

  “History repeats itself  because no one was listening the first time.”
Anonymous