Expert Explains It’s Insurance Companies, Not Patients, Who Benefit Most Under Obamacare

Wendell Potter, a health insurance industry expert and columnist for the Center for Public Integrity, writes in the Huffington Post:

Several million previously uninsured Americans now have coverage because of Obamacare, but it could be argued that the people who have benefited most from the law — at least financially — are the top executives and shareholders of the country’s health insurance companies.

Among those who apparently have not yet benefited much at all, at least so far, are owners of small businesses who would like to keep offering coverage to their employees but can no longer afford it. They can’t afford it because insurers keep jacking their rates up so high every year that more and more of them are dropping employee health benefits altogether. …

And let’s be clear, these insurers aren’t suffering. UnitedHealth Group, the largest health insurer, reported last week that it made $10.3 billion in profits in 2014 on revenues of $130.5 billion. Both profits and revenues grew seven percent from 2013. …

Meanwhile, the number of Americans enrolled in health plans offered by small employers continued the steady decline that started years before Obamacare went into effect.

Read more at the Huffington Post.