's far cheaper to offer free medical care
Another kevin lie. There is no such thing as free medical care
Another kevin lie
these premium/copay increases aren't due to increased costs of care. They're a completely artificial adjustment compelled by MAGA's crusade to reduce taxes on corporations and the wealthy
Now for the facts.
2024 Profit Margin Decline: The health insurance industry experienced a notable decline in profitability, with net earnings dropping from $25 billion in 2023 to just $9 billion in 2024. This resulted in a profit margin decrease from 2.2% to 0.8%.
Q4 2024 Average Profit Margin: The unweighted average profit margin for major health insurers was reported at 1.5% in Q4 2024, reflecting a decrease from previous quarters. This decline was attributed to increased medical costs and higher loss ratios.
Historical Context: Historically, the profit margins for health insurers have varied, with a reported margin of 3.3% through the second quarter of 2023, showing a modest decrease from 3.4% in the same period in 2021
Quarterly Data: As of September 2024, the profit margin for U.S. health insurance was recorded at 1.9%, down from 2.7% in June 2024, indicating ongoing challenges in maintaining profitability.
And of course the kevin lie that the wealthy don't pay taxes.
From Smart Asset
The top 1% of earners across the U.S. earn an average of 19.5% of all income – but pay 37% of total income taxes
In 2022, the top 5% of earners — people with incomes $261,591 and above — collectively paid over $1.3 trillion in income taxes, or about 61% of the national total.
The top 10% of earners in the U.S. (those making at least $178,611) collectively paid over $1.5 trillion in income taxes, which accounts for about 72% of the total income taxes paid.