US EditionHealth insurers made $41B the year COVID-19 landed. Why are they raising rates now?
- Health insurers saw a profit increase of 52% in 2020, totaling $41.4 billion, as fewer patients sought care during the pandemic, according to a Minnesota Star Tribune analysis of data from Mark Farrah Associates.
- In 2020, there was a significant decline in preventive services and elective surgeries, with approximately 68,000 fewer outpatient surgeries reported in Minnesota, according to the Minnesota Department of Health.
- Cynthia Cox, a researcher for KFF, noted that the $41.4 billion in profits from 2020 have faded, providing little cushion against current trends of rising costs for GLP-1 medications.
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San Diego Union Tribune+35 Reposted by 35 other sources
Health insurers made $41B the year COVID-19 landed. Why are they raising rates now?
By Christopher Snowbeck, The Minnesota Star Tribune Claire Lindell had to wait months for treatment when doctors in April 2020 were forced to suddenly cancel the little girl’s spine surgery. The delay was particularly stressful because the operation addressed several issues, including the 4-year-old’s high risk of respiratory infection — such as from the emerging COVID-19 virus. “That was a tough period,” recalled her father, A.J. Lindell of Pri…
·San Diego, United States
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