Current Events — HabitableZone

Current Events » in reply to The "For Profit" Insurance Company Has Outlived Its Usefulness.

Over 60 percent of large health plan providers are non-profit

Source.

And as far as the rest is concerned,

From their annual report for 2008, Wellpoint, the largest for-profit health insurance company last time I checked, reported income from premiums, fees, and other of $61.58 billion. During that same period, they paid benefits and drug costs of $48.2 billion, or a ratio of about 78 percent of income. Selling, general, and adminstrative expenses came to about $9 billion, or about 15 percent of income. That category includes salaries, advertising, paper clips, everything.

There were other expenses like taxes, interest, and stuff, but the net profit after taxes was $2.49 billion, or 4 percent of income.

Four percent.

I have put these numbers out before.

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