http://www.kenniffonline.com/medical-insurance-profits/
Any idea on the amount of benefits the insurance industry made in 2008? Anyone?
MSNBC reported 809 billion! Crazy or what!
Spread over hundreds of companies. Run around 4% – nowhere near making Coca Cola. If this is your way to suggest the health insurance companies are charging too much, you're wrong – because they are not making profits out of what they charge for insurance. This is a mistake very common, caused by ignorance of how the insurance industry, fostered by the media trying to make insurance companies ill, at the request of Democrats. They pay 99% of the premium dollar in claims. Administrative costs are subsidized with the profits made by investing the billions of dollars needed to maintain the payment of future claims. That's where they make their profits – to invest their reserves. Remove investment earnings, and insurance premiums go up, because then they also have to pay the administrative expenses (rent, property taxes, income taxes, wages and benefits for employees, utilities, paper, etc) your premium dollars.
Is For-Profit Healthcare Unjust? – Amartya Sen