Health insurance industry profit margin is only 2.2 %

The Health insurance industry profit margin is only 2.2 %

It proves that healthcare, not health insurance, is the cost that should be contained.

Too bad the Democrat bill won't contain the cost of healthcare itself. All they will manage to do is to put the health insurance industry out of business, and we will still have huge costs for healthcare.

 

 

 

 

If It's so Profitable, Buy the Stock

via Are We Lumberjacks? by lumberjack on 3/7/10

George Will schooled the liberal Robert Reich concerning "greedy" health insurance companies. (video at link) But what I can't understand is why the left continues to push the lie that insurance companies are cheating us. The companies are traded on the stock exchange for Pete's sake. Their accounting is audited. They average 2.2% profit. From Newsbusters:

For the record, as NewsBusters has previously reported, health insurance companies are amongst the least profitable of all America's industries. Here are 2008's rankings done by Fortune magazine:

2008 Industry Rank as % of Revenues
1 Network and Other Communications Equipment 20.4
2 Internet Services and Retailing 19.4
3 Pharmaceuticals 19.3
4 Medical Products and Equipment 16.3
5 Railroads 12.6
6 Financial Data Services 11.7
7 Mining, Crude-Oil production 11.5
8 Securities 10.7
9 Oil and Gas Equipment, Services 10.2
10 Scientific, Photographic, and Control Equipment 9.9
11 Household and Personal Products 8.7
12 Utilities: Gas and Electric 8.7
13 Aerospace and Defense 7.6
14 Food Services 7.1
15 Industrial Machinery 6.9
16 Food Consumer Products 6.7
17 Electronics, Electrical Equipment 6.5
18 Commercial Banks 5.2
19 Telecommunications 5.1
20 Chemicals 5.0
21 Construction and Farm Machinery 5.0
22 Insurance: Life, Health (stock) 4.6
23 Information Technology Services 4.5
24 Computers, Office Equipment 4.3
25 Metals 3.9
26 Wholesalers: Diversified 3.5
27 Insurance: Property and Casualty (stock) 3.3
28 Specialty Retailers 3.2
29 General Merchandisers 3.2
30 Health Care: Pharmacy and Other Services 3.0
31 Packaging, Containers 3.0
32 Beverages 2.9
33 Engineering, Construction 2.7
34 Health Care: Medical Facilities 2.4
35 Health Care: Insurance and Managed Care 2.2
36 Petroleum Refining 2.1
37 Food and Drug Stores 1.5
38 Pipelines 1.5
39 Wholesalers: Health Care 1.3
40 Semiconductors and Other Electronic Components 1.0
41 Energy 0.9
42 Home Equipment, Furnishings 0.7
43 Food Production 0.6
44 Wholesalers: Electronics and Office Equipment -0.3
45 Diversified Financials -0.6
46 Motor Vehicles and Parts -0.7
47 Insurance: Life, Health (mutual) -3.0
48 Hotels, Casinos, Resorts -4.5
49 Automotive Retailing, Services -7.9
50 Forest and Paper Products -9.6
51 Entertainment -10.0
52 Real Estate -13.4
53 Airlines -13.5

But the left continues to appeal to envy, perhaps thinking that if the crime against us little-guys is egregious enough it won't matter that it's not true.