“Health Insurance” Companies: Profit Motive is Contrary to the Interests of Medical Care and of the Insured’s Health; Single-Payer, Universal Health Care Is Needed in the United States

Health care cannot be for profit:  The profit-motive-oriented organization does not care about the health of its insureds but rather only its profit. It is the reason why single-payer, universal health care is the only rational solution.

There was a short blurb in the Washington Post stating that Aetna’s profit increased [note: see Aetna’s 8-K filed with the Securities and Exchange Commission] after leaving the Affordable Care Act’s (ACA, or ObamaCare) insurance exchanges. The increase in profit was due to the reduction of “health care costs.” Such a disgusting statement raises the question of Aetna’s existence to make money alone or to pay the insured’s health care costs.

Named Executive Officer for Aetna Inc. Title Net Worth Total Compensation
Mark T. Bertolini Chairman and CEO $180 million [Forbes (2016)] 2016- $18,662,306 [Aetna’s 2017 proxy statement, page 41]

Clearly, Aetna favors the money-making aspect (ensuring as many claims are not paid or at the smallest cost) while claiming to be a health-insurance company (payment of medical expenses on behalf of its insureds). The “health insurance” companies are simply extremely expensive middlemen, who do not even want to do their job–paying for health care. The ACA cannot fix this problem.

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