Since the Affordable Care Act:
Health Insurance companies’ profits are soaring.
Politicians are being paid not to change this. Meanwhile, there’s a health crisis. The average household now spends over 20% of their budget for medical costs to include premiums.
Big payers ranked by 2022 profit
Jakob Emerson – Thursday, February 9th, 2023
The nation’s largest payers have filed their fourth-quarter earnings reports, revealing which recorded the largest profits in 2022.
UnitedHealth Group: $20.6 billion
Total net earnings in 2022 were $20.6 billion, up 16.4 percent year over year. In the fourth quarter, net earnings attributable to shareholders were $4.76 billion. UnitedHealthcare’s total earnings from operations in 2022 were $14.4 billion, up 20 percent year over year.
Cigna: $6.7 billion
Total net income in 2022 was nearly $6.7 billion, up 24 percent year over year. In the fourth quarter, net earnings were $1.2 billion
Elevance Health: $6 billion
Total net income in 2022 was over $6 billion, down 1.3 percent from 2021. In the fourth quarter, net income was $949 million, down 16.5 percent from the same period last year.
CVS Health: $4.2 billion
Total net income in 2022 was $4.2 billion, down from $7.9 billion in 2021. Fourth quarter net income was $2.3 billion, up from $1.3 billion over the same period last year. The health benefits segment reported nearly $6 billion in adjusted operating income for 2022.
Humana: $2.8 billion
Total net earnings in 2022 were $2.8 billion, down 4.3 percent year over year. In the fourth quarter, the company posted a net loss of $15 million.
Centene: $1.2 billion
Total net earnings in 2022 were $1.2 billion, down 10.8 percent year over year. In the fourth quarter, the company posted a net loss of $213 million, down from a net income of $599 million year over year.
https://www.beckerspayer.com/payer/big-payers-ranked-by-2022-profit.html
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