Quantcast

Pandemic Worth BILLIONS For US Health Insurers

Pictures of Money, CC BY 2.0

“It is particularly glaring and inappropriate in a pandemic.”

UnitedHealth reported $6.7 billion in second-quarter profits, nearly double its $3.4 billion profit in Q2 2019

The Guardian – The enormous medical response in America to the coronavirus pandemic has not put a drain on US health insurers, which doubled profits in the second quarter of 2020 compared with the same time last year.

The US fight against the virus has been marked by overwhelmed hospitals, testing delays and personal protective equipment (PPE) shortages, but the high profits reported by some insurers have underlined concerns about America’s for-profit healthcare model.

The country’s largest health insurer, UnitedHealth Group, reported its profits were $6.7 billion in the second quarter of 2020 compared with $3.4bn in last year’s. Anthem’s profits rose to $2.3bn from $1.1bn for the same three-month period in 2019. Humana reported last week its earnings rose to $1.8 billion, compared with $940 million in 2019.

...article continued below
- Advertisement -

Dr. Steffie Woolhandler, a longtime advocate of single-payer healthcare and a professor at New York’s Hunter College, said in normal circumstances she considered the billions insurance companies collect a “scandal”.

“It is particularly glaring and inappropriate in a pandemic,” said Woolhandler, a co-founder of Physicians for a National Health Program.

Last week, the House energy and commerce committee said it was launching an investigation into health and dental insurance companies’ business practices in response to the profits they have reaped during the crisis.

There is, however, a simple explanation for the increases.

After a short period of uncertainty, it became clear that the cost of providing medical care would be lower in 2020.

...article continued below
- Advertisement -

People were avoiding the doctor’s office and delaying elective surgeries such as knee replacement. Those with mild symptoms of Covid-19 were initially advised to stay home unless they needed urgent care.

But the money insurance companies collect each month from individuals, known as premiums, kept pouring in.

“Private insurance companies make money by taking in premiums and not paying for care,” Woolhandler said … Read more. 

Bill Gates Faces New Questions On Virus Role

ALSO ON HEADLINE HEALTH TODAY: ‘Disloyal’ Trump Appointees OUT | Who Crapped The Salad? | Big Rx Twists Arms To Keep Insulin Prices Sky High

- Advertisement -
- Advertisement -

TRENDING

ERs Use Body Bags to Save Lives

Kaiser Health News – As a deadly heat wave scorched the Pacific Northwest last month, overwhelming hospital emergency rooms in a region unaccustomed to...

Hospitals That Sue Their Own Patients

Tennova Healthcare-Lebanon sued more than 1,000 patients over the past two years. Hundreds of those suits were filed during the pandemic at a time when many companies have been backing away from taking patients to court over unpaid medical debt. The state of New York even banned the practice.

Sarah Huckabee Sanders: Why I Got ‘The Trump Vaccine’

NEW YORK POST – Former White House press secretary Sarah Huckabee Sanders acknowledged Sunday that she was inoculated against COVID-19 “months ago” — with...

Latest Villains In Covid Blame Game: Country Music Fans

NEW YORK POST – St. Louis will reinstate its mask mandate on Monday, as one local health official tries to blame country music fans...

Trust Bible, Or Trust Fauci?

A California man who mocked Covid-19 vaccines on social media has died after a month-long battle with the virus.

Biden-Harris Border ‘Hypocrisy’ Fuels Drug Smuggling, Covid Rise: Physician/Congressman

WASHINGTON — Congressman Ronny Jackson (TX-13) spoke on the Floor of the U.S. House of Representatives yesterday to bring attention to the worsening crisis...

What If The Supreme Court Overturns Roe v. Wade?

OPINION | CNN – In some alternate universe, Supreme Court Justice Ruth Bader Ginsburg retired during the Obama presidency and Democrats were able to...

Excess Masturbation Cited In Near-Fatal Stoke

New York Post – This fellow redefined "mind-blowing sex" after he suffered a life-threatening stroke while repeatedly masturbating. Now, medical experts are saying he’s...

Large Ivermectin Study Retracted

MEDPAGE TODAY – A large Egyptian study of ivermectin for COVID-19 patients has been retracted over concerns of plagiarism and serious problems with their...

Mental Illness History Overshadows Possible Herschel Walker Run

ATLANTA (AP) — At first glance, Herschel Walker has a coveted political profile for a potential Senate candidate in Georgia. He was a football hero...
- Advertisement -