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AARP gets $500 million kickback for insurance endorsements, spends it on brass and marble headquarters, not on the members

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AARP’s Stealth Fees Often Sting Seniors With Costlier Insurance

The group, formerly called American Association of Retired Persons, collects hundreds of millions of dollars annually from insurers who pay for AARP’s endorsement of their policies.

The insurance companies build the cost of these so-called royalties and fees, which amounted to $497.6 million in 2007, into the premiums they charge AARP members, according to AARP’s consolidated financial statement for that year.

AARP uses the royalties and fees to fund about half the expenses that pay for activities such as publishing brochures about health care and consumer fraud -- as well as for paying down the $200 million bond debt that funded the association’s marble and brass-studded Washington headquarters.

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Comments

Submitted by lambert on

They're Villagers, that's what's wrong with them.

As I keep saying: It's all about the fees, baby!

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Submitted by DCblogger on

thanks, I can't write a good headline to save my life

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Submitted by DCblogger on

instant classic!

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Submitted by admin_lambert on

Brilliant indeed!

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Submitted by amberglow on

that's all you need --

"A Real 'Uniquely American' Solution -- Flush HMOs"

and that pic.

Turlock