By Wendell Potter – President at Center for Health and Democracy
On top of what you and/or your employer already pay insurance companies in annual premiums and out-of-pocket expenses — insurers also get a skim of your taxes!
So much *skim* that a MAJORITY of insurers’ health plan revenues are subsidized by American taxpayers!
I looked at the big seven for-profit insurers’ recent earnings reports and did a little simple math to figure out how much they were bilking American taxpayers.
Here are my findings:
• 86% of Centene Corporation’s revenues were subsidized by American taxpayers.
• 42% of Cigna‘s revenues were subsidized by American taxpayers.
• 68% of Elevance Health’s revenues were subsidized by American taxpayers.
• 89% of Molina Healthcare‘s revenues were subsidized by American taxpayers.
• 73% of Aetna, a CVS Health Company‘s revenues were subsidized by American taxpayers.
• 91% of Humana’s revenues were subsidized by American taxpayers.
• 72% of UnitedHealth Group‘s revenues were subsidized by American taxpayers.
And the truly scary part is, if anything, those percentages are understated because of the influx of tax dollars that have flowed through these big insurers due to the Covid-19 pandemic.
An influx that was recently extended for 3 MORE YEARS as part of the Inflation Reduction Act.
And despite the BILLIONS these insurers take in from taxpayers and premiums, millions of Americans WITH health coverage are functionally uninsured b/c of how much they must pay in out-of-pockets before their coverage kicks in.
Big insurance is bleeding this country dry.
The majority of big insurers’ health plan revenues are subsidized by American taxpayers
