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Health Insurers Gave $120 Billion To Shareholders While Denying Your Claim
(www.levernews.com)
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this post was submitted on 12 Dec 2024
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When they phrase it that way the insurance companies actually look better than they're commonly marked for. If I'm putting the right number of 0s in a calculator that's a profit rate of 4.12% which is a heck of a lot less than places like the retailers where they can afford to have a half off sale.
What we could really use is breakout of the 'above bottom line' expenditures to see who takes what from each $ put in.
Profit is what remains after paying your executives large sums of money.
Profit is a useless measure in most respects. The money they spend on executive compensation and stock buybacks isn’t part of the profits. The money they funnel to their fake charities and non profits isn’t part of the profits. The money they give to politicians and high priced consultant friends is not part of the profits. Profit is really just what’s left over after quite of few people have already profited quite a bit.