> By law, no more than 15% is going to the insurance company (which isn't just profit, that covers all the administrative costs of running the plan). I'm aware

> By law, no more than 15% is going to the insurance company (which isn't just profit, that covers all the administrative costs of running the plan). I'm aware of two huge exceptions that are large enough to make this basically not-true. 1) This doesn't apply when they're administering a self-funded plan, like most plans provided by large companies. This represents a giant chunk of US health insurance. 2) This doesn't apply to new plans (I believe in the first two years of operation). I admit I've not looked into it, but I'd be shocked if this isn't being gamed such that a fairly high proportion of plans that aren't excluded by #1, are always "new" and so not subject to those limits.