The coming COVID financial apocalypse

[medgator]

Insurance companies are profiting:

"The country’s largest health insurer, UnitedHealth Group, reported its profits were $6.7bn in the second quarter of 2020 compared with $3.4bn in last year’s. Anthem’s profits rose to $2.3bn from $1.1bn for the same three-month period in 2019. Humana reported last week its earnings rose to $1.8bn, compared with $940m in 2019."

US health insurers doubled profits in second quarter amid pandemic

US’s largest health insurer, UnitedHealth Group, reported $6.7bn in profits compared with $3.4bn for the same quarter last year

www.theguardian.com

Premiums didn't change but hospitals cut down on elective surgeries....

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[SneakyBooger]

Premiums didn't change but hospitals cut down on elective surgeries....

USAA sent me refund checks.

But not my health insurance company...

 

[Mandelin Rain]

Insurance companies are profiting:

"The country’s largest health insurer, UnitedHealth Group, reported its profits were $6.7bn in the second quarter of 2020 compared with $3.4bn in last year’s. Anthem’s profits rose to $2.3bn from $1.1bn for the same three-month period in 2019. Humana reported last week its earnings rose to $1.8bn, compared with $940m in 2019."

US health insurers doubled profits in second quarter amid pandemic

US’s largest health insurer, UnitedHealth Group, reported $6.7bn in profits compared with $3.4bn for the same quarter last year

www.theguardian.com

When you collect premiums and don't have to pay for anything, profits grow.

Interesting model.

I'm really happy for the insurance companies. It's been tough for them recently. #docsalariesaretheproblem

 

[medgator]

USAA sent me refund checks.

But not my health insurance company...

Got my gieco check. Not from the health ins company though

 

[SneakyBooger]

Once the "Great CoVid Pandemic Experiment" is over we may need to rethink if all of these elective surgeries are necessary and, if not, should we continue to pay for everything that we have paid for prior to.

 

[deleted605854]

Got my gieco check. Not from the health ins company though

Same

 

[OTN]

Insurance companies are profiting:

"The country’s largest health insurer, UnitedHealth Group, reported its profits were $6.7bn in the second quarter of 2020 compared with $3.4bn in last year’s. Anthem’s profits rose to $2.3bn from $1.1bn for the same three-month period in 2019. Humana reported last week its earnings rose to $1.8bn, compared with $940m in 2019."

US health insurers doubled profits in second quarter amid pandemic

US’s largest health insurer, UnitedHealth Group, reported $6.7bn in profits compared with $3.4bn for the same quarter last year

www.theguardian.com

Premium rebates are also going to double, though.

edit: ish. Maybe 80% increase or so is what I’ve read.

 

[seper]

insurance companies's windfalls are not going to last. whichever administration takes power, they are going to claw extra profits back

 

[medgator]

insurance companies's windfalls are not going to last. whichever administration takes power, they are going to claw extra profits back

Think it will depend on the administration, actually...

 

[Tigerstang]

USAA sent me refund checks.

But not my health insurance company...

They sent your refund to your employer

 

[Mandelin Rain]

They sent your refund to your employer

But, what if you are your own employer?

 

[Tigerstang]

But, what if you are your own employer?

You should have gotten a premium refund. If not, time to consider changing insurers. I know United did refund employers.