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Health insurance profits are capped by government. They aren’t immensely profitable in the strictest sense of the word. That’s why they had to refund premiums
by thallium205 3y ago
Health insurance profits are capped by government. They aren’t immensely profitable in the strictest sense of the word. That’s why they had to refund premiums during COVID.
- l33t7332273 3y agoA quick search shows they made more than 40 billion dollars in profit last year. That seems immense to me.
- Wytwwww 3y ago> That seems immense to me. From an emotional perspective sure. Their revenue is more than 1 trillion, so while less than 4% lower prices would be nice it wouldn't really fundamentally change anything.
- wh0knows 3y agoProfit can be manipulated. Creating a giant bureaucracy of overpaid administrators and middlemen can siphon off any amount of money while declaring no profit.
- Wytwwww 3y ago> Profit can be manipulated You mean costs can be inflated? Yes, the American healthcare system is extremely inefficient but that doesn't help the shareholders of those insurance companies at all.
- wh0knows 3y agoYes, I mean the amount that the cost is inflated by is much greater than 4%.