During a pandemic Five of the most profitable health insurance companies in the U.S. brought in over $11 billion in profits in the second quarter of 2021.
Between April and June of this year, UnitedHealth Group, Aetna, Anthem, Cigna, and Humana reported profits of $4.37 billion, $2.78 billion, $1.8 billion, $1.47 billion, and $588 million, respectively, in sharp contrast with the hardships faced by many Americans, albeit some customers will see rebates in premiums if they hold health insurance in the future.
According to a Commonwealth Fund study published last month, 36% of insured adults in the U.S. surveyed between March and June reported struggling with medical bills. Unsurprisingly, the 45% of the population that was infected with Covid-19, lost income or lost their employer-based coverage had higher rates of medical debt.
"A lot of public health departments are really still struggling to find funds for contact tracing [and] testing even when the local insurer was sitting on huge profits," Dr. Joshua Sharfstein, vice dean for public health practice and community engagement at Johns Hopkins University explained, adding "I think part of the dysfunction of the U.S. response was the fact that money was accumulating in one part of the healthcare universe while it was desperately needed in another part."
The Commonwealth Fund released a report showing that even as the U.S. spends far more as a percentage of GDP on healthcare than other rich countries, its for-profit system once again ranks dead last when it comes to access, efficiency, equity, and outcomes.
'This Ain't Right!': Top US Insurers Made $11 Billion in 2nd Quarter | Common Dreams News
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