Posted on 01/16/2009 10:50:34 PM PST by eartotheground
Seniors may think they save money when they buy AARP insurance, but if they take the trouble to compare competing products, they may be paying twice as much.
AARP brought in nearly half a billion dollars in 2007 from fees insurers pay for AARP endorsement. It also gained about $40 million from holding the clients’ premiums for a month and investing them.
The revenue helps pay down the $200 million bond debt that funded the organization’s brass and marble headquarters in Washington, D.C.—which is closed to visitors, purportedly so staff can work.
Royalties and fees now constitute about 43% of AARP’s revenue, up from 11% in 1999.
According to a 2007 Harris poll, AARP ranks third behind Consumer Reports and the American Red Cross as a trusted large advocacy group influencing U.S. politics. AARP is considered the most powerful interest group in the United States.
“They don’t even have to give any campaign contributions,” observes James Thurber, director of the Center for Congressional and Presidential Studies at American University in Washington. “AARP’s enormous clout comes from the threat that they could defeat people in Congress who don’t do what they want.”
AARP lobbied against Bush’s proposed overhaul of Social Security, and for the Medicare prescription drug benefit. When Part D passed, AARP was able to expand its contract with UnitedHealth Group, which underwrites its Medicare supplemental insurance plan.
“I was kind of shocked,” said one member, who found out he was paying $1,079 more for his AARP auto insurance than he would have paid for a Mutual of Omaha policy. “They’re making money on the backs of old people” (Gary Cohn and Darrell Preston, Bloomberg.com 12/4/08).
If it takes more than a minute to find this outfit's website on a major search engine, I strongly wonder why!
Still searching. Three minutes...bad requests, page not found, etc.
GMTA.
Look at our posting times. I am a second BEFORE you, but I have the post AFTER you. How does that work?
Oh never mind. I’m an hour late.
Ok, it took a while, but they have changed their name and are now americanseniors per this page:
http://www.americanseniors.org/pages/history.aspx?Images=/images/american_aboutus.JPG
AARP is a big supporter of National Health care. Wait until the fools who support AARP find out they are going to die because their treatment was denied by the Tom Dashel “health” commisar.
These are the same fools who believe the record cool spell of last yerar and again this year is caused by global warming.
God help us but most people in this country are too lazy to think.
I tore mine up and sent them back - with an explanation!
Mr sneakers tossed his in the garbage.
I appreciate the tip. I’ve been throwing the AARP mailings in the trash since my 50th b-day. Nice ti know there’s an alternative.
Aaaaa-a-a-arp!
It always puzzles me when I read stuff like this because my total annual premium with AARP is $588 for three vehicles (no collision coverage, though).
AARP is one of the biggest scams in the country, IMO.
Have you ever filed on your AARP insurance?
First, I share other’s concerns about AARP. However,their supplemental medical coverage is just fantastic. My premiums for the first year were $110/month and I have not paid one cent out of pocket for my medical care. I get chmotherapy which is not cheap and I have never had one negative inquiry from them and they pay 100%. Many of my physiciam friends swear by it too!
Whats amazing is that Hartford through AARP could save me $482/Yr combining Auto and House Ins opposite Allstate, who knew.
Sorry that you need it.
Insurance companies are different as is each person - I guess everyone has to make their own ‘best deal’.
I can carry 10x the insurance for 10% more than AARP quoted with the folks that carry my policy.
Oh well, I guess that’s why there are so many different outfits looking for your business/money.
Note to self - not all public school teachers are lefists. Some actually do a good job teaching children.
I guess the moonbats make the lot look bad - which is a shame.
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