Some fun facts about health insurance companies, courtesy of The Rachel Maddow Show.
In 2000, the profit for health insurers was $2.4 billion annually.
In 2007, it was $12.7 billion annually.
Between 2000 and 2007, the number of uninsured Americans rose from 38.4 million to 45.7 million, so those increased profits did not come from more premiums. Hmm. Perhaps they came from more expensive premiums.
The annual compensation package for a CEO of a health insurance company is, on average, $11.9 million.
In 1993, companies spent 95% of their premiums on claims. In 2007, they paid 83% of their premiums on claims.
I wonder why they don’t support health insurance reform.