Insurance Industry Profits

It is claimed by the Obama administration as well as leftists who like to make You Tube videos that the reason health care costs are so high is because of the profits the insurance industry makes. And that if we were to just get rid of those profits then the savings could be passed onto everyday people like you and me.

I was excited about this prospect of paying lower health insurance and so to see how much in savings would be passed onto me I looked up Aetna, one of the larger publicly traded insurance companies out there. I did this on Reuters because Reuters will not only show you the profit margins for the company you are looking at, but the entire industry. That way you can see just how high of profit margins these companies have and how much you're going to save!!!

Wow! The past 12 months the insurance industry has had a profit margin of .94%. That's not 94% for those of you who majored in liberal arts and never took calculus, that's .94%, LESS THAN 1%.

Now I'll be kind and intellectually honest enough to admit the 5 year average has been 4% in the industry, but are you freaking kidding me? At maximum a savings of 4%?

And let us not kid ourselves kiddies, with the amazing efficiency of the government managing a health insurance plan, you damn well know it's going to gobble up more than that paltry 4% LIKELY COSTING YOU MORE THAN A PRIVATE HEALTH INSURER WOULD.

Oh, but it's not really about the cost, is it? It's the fact somebody else will be paying for it. And that's what this is all about. I just wish people would be intellectually honest about this.