A lot of this data is open: https://www.kff.org/private-insurance/state-indicator/average-gross-margin-on-the-individual-market/?currentTimeframe=0&sortModel=%7

A lot of this data is open: https://www.kff.org/private-insurance/state-indicator/average-gross-margin-on-the-individual-market/?currentTimeframe=0&sortModel=%7B%22colId%22:%22Location%22,%22sort%22:%22asc%22%7D https://www.kff.org/private-insurance/state-indicator/averag... That shows the gross margin of insurance companies (based on premiums vs paid claims). Note that it's negative in some states, and also that's gross margin - so all the insurance companies' costs need to be paid out of that. They are not making as much profit as you think they are.