AARP Spent Millions Advocating for New Laws That Likely Benefit a Major Corporate Backer

Old Person

AARP, an organization that represents the interests of retired Americans, spent tens of millions of dollars promoting provisions in the Inflation Reduction Act (IRA) that likely benefit the bottom line of one of the group’s major corporate backers.

AARP spent more than $60 million between 2019 and summer 2022 advocating for a provision that eventually made it into the IRA allowing Medicare to negotiate with pharmaceutical companies over the prices of certain drugs, according to an article posted on the group’s website. The provisions would require the Department of Health and Human Services (HHS) to negotiate the prices of certain drugs with drug manufacturers starting in 2026.

Read More

‘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%.

Read More

Georgia Senate Committee Learns Private-Sector Workers’ Retirement Savings Low

According to data presented Friday to the Senate Retirement Security for Georgians Study Committee, about half of Peach State residents—and Americans generally—aren’t saving enough for retirement.

Jessica Eckman, a senior legislative representative with the American Association of Retired Persons (AARP), told the committee that about 50 percent of U.S. households are at risk of accumulating insufficient retirement savings, up from 31 percent three decades earlier.

Read More

Gade and Warner Debate ACA, Social Security

Senator Mark Warner (D) and challenger Daniel Gade debated health care and social security at a Tuesday debate hosted by the AARP and WTKR News 3. Warner stressed his record including support of the American Care Act (ACA) and criticized the Republican Party for trying to dismantle it. Gade described some potential compromises to the ACA and repeatedly called Warner a career politician.

Read More