Comment on BlackRock is Suing UnitedHealth for Giving “Too Much Care” to Patients After the CEO was Murdered

Ledericas@lemm.ee ⁨4⁩ ⁨weeks⁩ ago

• tempest@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago

  As much as people harp on blackrock and vanguard they hold a ton of people’s retirement funds.

  This is a vicious thing to do of course but they are protecting a lot of people’s nest egg.

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  • Auli@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago

    Fuck them. Oh no the insurance company is doing what it’s supposed to instead of denying everyone like they do.

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    • toastmeister@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago

      Their job is to attain shareholder value, not to legislate healthcare. If you’re relying on the charity of for-profit corporations run by shareholders then you’re going to have a sad time.

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      • UnderpantsWeevil@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

        Their job is to attain shareholder value, not to legislate healthcare.

        Client Profile: UnitedHealth Group

        Total Lobbying Expenditures, 2025: $3,370,000

        :-/

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    • tempest@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago

      Sure but it is sorta a treating the symptom and not the disease. Blackrock is right to sue them as a shareholder but companies should not be involved in people’s health care to begin with.

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      • Fuctangle@sh.itjust.works ⁨4⁩ ⁨weeks⁩ ago

        Actually they’re wrong to do it

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      • NotASharkInAManSuit@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

        Can you explain in what way you feel Blackrock is right? Do you feel that people’s lives and healthcare are less important than share holder profits for a company that sells you the promise of covering your medical expenses because that’s what you are specifically paying them to do because they gave you a legally binding agreement to do so? How does a health insurance company insuring healthcare costs out them in the wrong? I really need a clarification here.

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  • sugarfoot00@lemmy.ca ⁨4⁩ ⁨weeks⁩ ago

    Oh please. That doesn’t make the math any more forgivable. Every investor made a choice. The fact that it’s an institutional investor and mutual funds doesn’t sever the provider of the money and their demand for returns from the ethical issues of what the companies are doing.

    Don’t fail to hold equity investors like this to account because they’re holding grandma’s retirement hostage. That’s on grandma too.

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  • UnderpantsWeevil@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

    This is a vicious thing to do

    If you get into the weeds, the issue isn’t that UHC updated their coverage policies and practices. It is that they did so without notifying shareholders first.

    Incidentally, one upshot of this lawsuit will be a long period of discovery during which UHC will attempt to prove it is fulfilling its fiduciary duty by showing off how many cruel and nefarious methods it uses to fuck over its clients. So, while you might shit on Blackrock for “viciously” exposing UHC’s internal practices to the light of day, I’ve gotta say that I am seeing nothing but positive outcomes as a result.

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  • ridethisbike@lemmy.world ⁨4⁩ ⁨weeks⁩ ago

    Wait. What’s the deal with vanguard? I don’t think I’ve ever seen anyone harp on them

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