Insurance Companies Profits Under Obamacare
They were so successful in fact that a frequent criticism of obamacare is that it s just a giveaway to the health insurance industry.
Insurance companies profits under obamacare. Insurance companies profit from obamacare no one can reasonably deny that the major insurance companies were the driving force behind the writing of the affordable care act legislation. The health insurance industry that has come under attack from bernie sanders elizabeth warren and other democrats running for their party s nomination for the presidency is enjoying a golden. For example optima health the only insurer on the virginia exchange in 2018 posted record profits after tripling. The health care industry spent nearly 500 million lobbying for health care issues in 2012 and 243 million so far in 2013.
Under obamacare the ten largest health insurers annual profits have risen to 15 billion. Beginning in 2011 the law requires insurance companies in the individual and small group markets to spend at least 80 percent of the premium dollars they collect on medical care and quality improvement activities. But the claim that corporations are losing money on obamacare ignores the record breaking profits and compensation packages that health insurers continue to collect. Consumers are probably entitled to millions of dollars in rebates under obamacare rules that cap companies profits.
Health insurance can be confusing. Insurers such as unitedhealth group inc humana inc. That didn t profitably sell obamacare plans largely dropped out of the market by last. This is another fine example of the natural alliance between big government and big business which.
Take the affordable care act aka obamacare. This group includes major players such as unitedhealth group wellpoint humana aetna and cigna each of which is large enough to belong to the fortune 100. The nation s largest insurers like anthem and unitedhealth had second quarter. Health insurance agencies have profited handsomely from the affordable care act.
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