Hobby Lobby's Retirement Plan Invests in Abortion Pills, Emergency Contraception
Last week, the for-profit Christian corporation Hobby Lobby claimed in the U.S. Supreme Court that it should not have to provide emergency contraception pills or IUDs to its employees via health insurance plans because these types of birth control supposedly cause abortion.
Even though most medical experts have debunked this claim, noted NPR, Hobby Lobby insists that it is simply defending its sincere, deeply-held, religious Christian convictions.
However, Hobby Lobby failed to mention that its 401(k) employee retirement plan invests $73 million in mutual funds that invest in drug companies that produce emergency contraceptive pills, intrauterine devices and abortion-inducing medications.
Mother Jones cited the following investments from documents filed with the Department of Labor in December 2012 by Hobby Lobby:
Teva Pharmaceutical Industries, which makes Plan B and ParaGard, a copper IUD, and Actavis, which makes a generic version of Plan B and distributes Ella. Other holdings in the mutual funds selected by Hobby Lobby include Pfizer, the maker of Cytotec and Prostin E2, which are used to induce abortions; Bayer, which manufactures the hormonal IUDs Skyla and Mirena; AstraZeneca, which has an Indian subsidiary that manufactures Prostodin, Cerviprime, and Partocin, three drugs commonly used in abortions; and Forest Laboratories, which makes Cervidil, a drug used to induce abortions.
Several funds in the Hobby Lobby retirement plan also invested in Aetna and Humana, two health insurance companies that cover surgical abortions, abortion drugs, and emergency contraception in many of the health care policies they sell.
Mother Jones also notes that Hobby Lobby used to cover IUDs and emergency contraceptives until 2012, when the company filed its lawsuit against the U.S. government over the Obamacare contraception mandate.