Here are some economic facts about health costs and insurance today-
Per capita costs-
Health care comprises
a vast network of doctors and nurses, technicians, medical device manufacturers, pharmaceutical makers, hospitals and
in-home services, educational institutions, financial arrangements (insurers), and, above all, patients--along with
numerous others. It is a complex, sophisticated, and dynamic set of interactions that consumes more than $3 trillion of the
Nation's resources and represents about one-fifth of the economy.
(trillion) costs/325,000,000 (million) individuals living in the US = $10,345.
which is the annual costs
of health care in the US per capita. (325 million individuals live in the US.)
Health insurance companies
are not going broke-
The Standard noted in 2016:
combined annual profits of America's ten largest health insurance companies were $8 billion. Under Obamacare, the ten
largest health insurers' annual profits have risen to $15 billion.
The Economist reported:
prices of America's five biggest health insurers—UnitedHealthcare, Aetna, Humana, Cigna and Anthem—have all
roughly tripled” over the first five years of the ACA.
(With Annual administrative costs and profits
averaging 18% of the revenue per enrollee.)
In addition to rising profits for shareholders,
the administrative costs continue to soar- the top five insurers each paid their CEO’s $10-15 million (equivalent to
covering up to 8,100 individuals). *
*Cigna CEO David Cordani: $17.3 million
Aetna CEO Mark Bertolini: $17.3 million
UnitedHealth CEO Stephen Hemsley: $14.5 million
Anthem CEO Joseph Swedish: $13.6 million
Bruce Broussard: $10.3 million