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flying_wahini

(8,247 posts)
Fri Dec 6, 2024, 04:47 PM Dec 2024

Insurance companies did quite well this year. Here is their report thru 3rd quarter 2024. [View all]

For number crunching folks who can make sense of it all.
Still making BIllions off the backs of the sick.

U.S. Health Insurance Industry Analysis Report
HEALTH INDUSTRY OVERVIEW
Table 1 below provides a 5-year quarterly snapshot of the U.S. Health
insurance industry’s aggregate financial results for health entities who file
with the NAIC on the health quarterly statement blank. The health
insurance industry reported an underwriting gain of over $12 billion, a 31%
decline from approximately $18 billion for the same period a year earlier.
Similarly, net income decreased 14% to approximately $16 billion for the
first six months of 2024 compared to the same period in the prior year. The
industry’s profit margin decreased moderately to 2.7% from 3.3%, while the
combined ratio increased by a moderate 110 basis-points.
Notable items as compared to second quarter 2023 include the following:
 Hospital & medical expenses increased 7% ($35 billion)
 Net earned premium increased 5% ($29 billion)
 Administrative expenses increased 2% ($2 billion)
 Enrollment decreased 3% (9 million)
 Cash flow from operations dropped 86% to $9 billion from $67 billion
 Capital and surplus increased 4% ($9 billion) to over $224 billion from $215 billion at December 31, 2023

Much MUCH more at link….9 pages

https://content.naic.org/sites/default/files/health-2024mid-year-industry-report.pdf

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DuRec leftstreet Dec 2024 #1
My same insurance double from 2024 to 2025. Deductible increased 30%. LizBeth Dec 2024 #2
Wow that's a lot! flying_wahini Dec 2024 #18
Assuming info correct, the profit margin of roughly 3% is low compared to banks, dining, drugs, education, Silent Type Dec 2024 #3
There are ways to game it. Xolodno Dec 2024 #4
3.3% seems to be norm for industry. Jets, etc., get expensed out over years. If they paid their Execs a Billion Silent Type Dec 2024 #7
You missed my point. Xolodno Dec 2024 #8
Fine. Take an insurer like UHC with 25 M covered people. Pay the execs nothing and you'd Silent Type Dec 2024 #9
If you want better care, standards, etc. The money has to come from somewhere. Xolodno Dec 2024 #10
$100 B in improper billing a year for Medicare and Medicaid according to HHS/CMA. Silent Type Dec 2024 #12
Go on.... Xolodno Dec 2024 #13
Like your company never underpaid on a claim or had a contractor cheat you. Besides, I thought you were done. Silent Type Dec 2024 #14
This message was self-deleted by its author Silent Type Dec 2024 #15
BTW, what was your company's profit margin? Probably more than health insurance. Silent Type Dec 2024 #16
Looks like Obamacare has worked out ok for them. jalan48 Dec 2024 #5
My insurance went up 10 dollars RANDYWILDMAN Dec 2024 #6
WHAT THE ABSOLUTE FUCK!!!!!!!!! a kennedy Dec 2024 #11
And United... Ollie Garkie Dec 2024 #17
If you pay them and they deny, defend and depose I'm quite sure it helps their bottom line Always Blue Dec 2024 #19
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