Day: June 20, 2013

Arthur J Gallagher & Company is an insurance brokerage giant with over 12,000 employees in 300 offices in 16 countries. Estimated annual revenue is +$2 billion (slightly more than RiskManagers.us).  Growth through agency/brokerage acquisition continues to fuel Gallagher’s insatiable appetite for market dominance.  The most recent acquisition is a brokerage firm located in the Lower Rio Grande Valley, Texas.

May 20, 2013 – Arthur J. Gallagher & Co. Acquires Garza Long Group Founded in November 2011, Garza Long Group (GLG) offers a wide range of employee benefit program consulting services for their employer clients in the Rio Grande Valley and throughout Texas. They provide health and welfare strategic planning and design, voluntary benefits, wellness, benefits administration and human resource consulting with a specialization in public entity businesses. Robert Garza, Nick Long and their associates will continue to operate in their current location under the direction of John Neumaier, South Central Regional Executive Vice President of Gallagher’s employee benefit consulting and brokerage operations.

Continue reading Gallagher Benefit Services Inc – Growth Through Acquisition

Researchers find that nearly 70 percent of Americans are on at least one prescription drug, and more than half receive at least two prescriptions.

Continue reading 70% Of Americans On Prescription Drugs

The U.S. Securities and Exchange Commission has charged two founders of a medical insurer with operating a Ponzi scheme.

The SEC said Tuesday that by the time their scheme involving Dallas-based Global Corporate Alliance Inc. collapsed, Duncan MacDonald and Gloria Solomon had collected close to $10 million from at least 80 investors and returned about $2 million to them in the form of Ponzi payments.

Continue reading SEC Charges Plan Operators With Medical Ponzi Scheme

“…….the health care marketplace is not functioning adequately because prices do not appear to be based on the costs of producing a product, the laws of supply and demand, or the quality of the products and services.”

Continue reading Government Considers Health Care Pricing Transparency

Physicians are not paid by health  insurance companies to treat people with behavior “problems.” They get paid  only to treat diseases. So, understanding where their bread is buttered, and by  whom, the American Medical Association has now identified obesity as a disease.  The Los Angeles Times had spotted the economic nature of the  re-definition.

Continue reading You Are Sick, Fatso. I’m Billing Your Insurance Company!