Video archive of the US Congress

Senate Proceeding on Dec 4th, 2009 :: 1:30:05 to 1:32:25
Total video length: 9 hours 20 minutes Stream Tools: Stream Overview | Edit Time

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John McCain

1:30:01 to 1:30:21( Edit History Discussion )

John McCain: medicare advantage. and that's what we are prevent by this amendment. mr. mccain: could i just mention one other thing? i'm not going to spend that much more time on aarp. but the reason why i do is because every time the senator from montana stands up, he talks about that aarp has endorsed this rip-off of the american

John McCain

1:30:05 to 1:32:25( Edit History Discussion )
Speech By: John McCain

John McCain

1:30:22 to 1:30:43( Edit History Discussion )

John McCain: people. so, let me just quote again from a bloomberg article entitled "aarp's stealth fees often sting niors with costlier insurance." and i coat from the bloomberg article -- and i quote from the bloomberg article. arthur lapos joined aarp because

John McCain

1:30:44 to 1:31:04( Edit History Discussion )

John McCain: he thought the nonprofit senior citizen advocacy group would make his retirement years easier. he signed up for an auto insurance policy endorsed by aarp believing the advertising that said he would save money. he didn't. when lopas, 71, compared his car insurance rate with a other companies he found out he

John McCain

1:31:05 to 1:31:27( Edit History Discussion )

John McCain: was paying twice the average. why? one reason he learned was because aarp was taking a cut out of his premium before sending the money to hartford financial services group, the provider of the coverage. aarp uses the royalties and fees to fund about half the expenses that pay for activities such as publishing health care and consumer fraud

John McCain

1:31:28 to 1:31:49( Edit History Discussion )

John McCain: as well million bond debt that funded the association's marbl and brass-studded washington headquarters. in addition, aarp holds clients' insurance premiums for as long as a month and invests the money which added $40.4 million to revenue in 2007.

John McCain

1:31:50 to 1:32:10( Edit History Discussion )

John McCain: during the past decade, royalties and fees have made up an increasing percentage of aarp's income, rising to 43% of its $1.17 billion in revenue in 2007 from 11% in 1999, according to aarp data."

John McCain

1:32:11 to 1:32:25( Edit History Discussion )

John McCain: this is a bloomberg article. this isn't from the republican policy committee. so the points who gains? who gains from this legislation? who's going to make hundreds of millions dollars more because they provide the medigap

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