Despite having offered what it characterizes as “extensive” financial assistance to its policyholders throughout the pandemic, UnitedHealthcare’s profits remain substantial nine months into the country’s battle with COVID-19. The Los Angeles Times asks the question, if United could still achieve $1 billion in profit per month during Q3 while the pandemic raged on, and while the insurer supposedly was offering coverage at a discount, what does this say about normal, non-pandemic rates? We think it says that they are too high — both now and before the pandemic — and that this is more evidence of payors prioritizing their wealth over their members’ health.
UnitedHealth’s pandemic profit ride reveals wrongs of the system
On October 15, 2020, the L.A. Times reported that even after offering policyholders cuts in premiums and copays, the nation's largest commercial health insurer still raked in over $1 billion a month. Here's why that's a big deal.