HEY NOW: Most companies struggled in the second quarter as the coronavirus pandemic froze the economy, but health insurers like UnitedHealth heavily benefited as people held off on going to the doctor or hospital, resulting in fewer medical claims that needed to be paid. In addition, pharma profit margins remain very high.
Health insurers
SUMMARY: Los Angeles Times…”The most perplexing aspect of our current debate over healthcare and health coverage is the notion that Americans love their health insurance companies. The truth is that private health insurers have contributed nothing of value to the American healthcare system. Instead, they have raised costs and created an entitled class of administrators and executives who are fighting for their livelihoods, using customers’ premium dollars to do so.” Ouch
KEY TAKEAWAY: Consumers know what they want from health insurers if only politicians would listen. Insurers are adding to the complexity of healthcare at a time when people need clarification.
KEY TAKEAWAY: The top six health insurance CEO’s earn almost $160 million in salaries while they continue to dictate who will get the treatments they need and who will suffer or die. This is a prime example of why for profit healthcare may never work here in the U.S..
KEY TAKEAWAY: According to Nurse Practioners the biggest threat to patients is not the high cost of drugs, but the growing influence of insurers who dictate what to prescribe to patients.
According to CBS Marketwatch “Aetna said it has lost $430 million on Obamacare plans during the first two years. During that same time the company spent $23 billion on administration, marketing, paperwork, junkets, bonuses and other overhead. That’s a ridiculous 26 cents for every dollar it paid out in actual benefits”.