On the recordMarch 19, 2010
I want to just say that our colleagues across the aisle have been lambasting insurance companies about what terrible things they have done to the American people. But I want to say that there is one insurance company they like very much, and that's the AARP. And it's probably because the AARP has come out so strongly in favor of this terrible so-called health care bill. Let me explain to the American people why the AARP is an insurance company. Because their royalty fees in 2008, according to their own financial statements, totaled $414 million, pure profit. And a higher amount of net revenue than that generated by such large insurers as CIGNA, which had $292 million profit, or Health Net, a $95 million profit during the same time period. Even as premiums continue to rise for seniors, AARP's profits have skyrocketed in recent years, jumping 31 percent just from 2007 to 2008.
