Re: His own examples proves him wrong
by
markgimein
05/01/2008, 10:31 PM
The top five insurers profits -- that's their net income -- were $11.8 billion. That's one half of one percent of total US health care costs. I think you misread something. "Profits" and "income" are the same -- "profits" is simply a little less formal. I just didn't say anything about their profit margin (because different industries calculate revenues in different ways, discussing profit margins is often quite difficult).
You seem to be confusing "income" and "revenue." And also total US health care costs ($2.3 trillion) with the insurance companies' revenues (that will be a much, much lower number).