‘Effectively Overcharges Seniors’: AARP Rakes in Record Profits Selling Brand Royalties While Overcharging Members

old man and woman walking outside together

The American Association of Retired Persons (AARP) raked in massive profits in 2020, mostly from royalties on branded health insurance policies, not memberships, according to company financial documents.

AARP’s 2020 Form 990 shows that the organization reported $1.6 billion in revenue, with roughly $1 billion, or over 60%, from royalty revenue. Meanwhile, membership dues contributed under 20% of total revenue.

AARP’s 2019 Form 990 reported $1.72 billion in revenue, with royalties making up nearly 56% of revenue while membership dues contributed just 17%.

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Florida Legislature Passed Insurance Reform, Industry Future Uncertain

After weeks of debate, Florida lawmakers passed insurance reform bills at the tail end of session. In the end, lawmakers passed legislation potentially leading to rate increases for customers of the state-backed Citizens Property Insurance Corp.

Legislators also took steps to reduce the amount of roof-damage claims and lawsuits due to concerns of hurricane damage claims being filed long after the storm.

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McCabe’s Leak Denials Cast Suspicion on His Loyal Aide, Lisa Page

Andrew McCabe’s denials to his FBI colleagues that he was behind a media leak related to the Clinton Foundation investigation in October 2016 cast suspicion on his loyal aide, Lisa Page, former FBI Director James Comey said in an interview with the Justice Department’s inspector general.

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