Nation's top five health insurers report 12 billion in profit for 2010
According to Representative Pete Stark of California, the largest five health insurers in the U.S., i.e., UnitedHealth, WellPoint, Aetna, Humana and Cigna, reported a total profit of 12 billion dollars last year. That is more than the leading five firms in energy, construction, aviation, motor vehicles and parts manufacturing. The companies defended their record by pointing out that their profit margins were lower than the profit margins of pharmaceutical companies (16 %) and the healthcare sector generally (21%). Not bad when you can make about ten times the rate of inflation on your investment in a down economy, huh?