Health Insurance Companies Invest in Fast Food Chains

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"At $585.3 million, Massachusetts Mutual owns even more stocks in tobacco than in fast food. Philip Morris, one of the nation’s leading tobacco firms, is the insurance company’s greatest investment, at $412.6 million. "
http://www.baystatebanner.com/health18-2010-04-22

colin of TX 12:53PM April 21, 2010

While it is immoral... it makes sense. While health insurance is meant to protect us, it IS a business. The goal of a business is to compete and bring in profits. Can anyone really be surprised? It would be different if it were a non-profit organization and/or received government funds, then they would be held to higher standards. Because they are private, it is up to us, the consumers, to demand better practices. Easier said than done.

My Insurance Life of CA 5:59PM April 20, 2010

Is it "immoral" for companies that market themselves as providing "health maintenance" and "health care" to invest in businesses whose products make their own customers sick, reducing their life expectancy?
In this land one can claim anything (PR), yet do the opposite, claim the moral high ground and then go play 18 holes of golf, happily knowing that you'll not lose a dime of profits. Because, as the original commenter implies, profits are all that matter.
And yes, for anyone with an understanding of ethics, it is immoral.

Jonathan Quimbly of NY 5:04PM April 17, 2010

But it's no more immoral for insurance companies to invest for profit in fast food and tobacco (and liquor and gambling, for that matter) than for ANYONE to invest in those things. Chances are that the average holder of a 401(k) plan or other broad-based mutual funds has a little slice of all of them.

Muser of NM 12:54PM April 17, 2010

The insurance industry IS invested in tobacco. In a New England Journal of Medicine letter in June of 2009 we published data showing that the insurance indsutry had a total of $4.4 billion invested in tobacco.

j. Wesley Boyd, MD, PhD of MA 4:37PM April 16, 2010

Mary Kate-
Thank you for your informative and insightful article. You have nailed it once again. The carriers have no vested interest in making our population healthy. They are simply concerned with profits and shareholder value.
The company I work for, WellNet, is countering the broken annual procurement process. We use stories like yours often to explain that companies need daily, proactive managment and incentive based wellness programs to lower costs and make thier population healthier.
Your suggestions as to where they could/should invest are spot on.
Great job!

Scott Eglinton of MD 4:15PM April 16, 2010