America’s largest health insurance companies have raked in more than $371 billion in profits since the passage of the Affordable Care Act, according to financial data reviewed by The lever. More than 40 percent of that net income went to UnitedHealth Group, whose annual profits soared nearly 400 percent. would have refuses almost one in three medical claims from its policyholders.
Insurers reaped these profits as premiums for average American families reached nearly $26,000 per year. In total, since the passage of the Affordable Care Act (ACA) in 2010, more than $9 trillion in revenue has flowed to the nation’s largest health insurance companies, including UnitedHealth Group; Cigna; Kaiser Permanente; Elevance Health, the parent company of Anthem Blue Cross Blue Shield; and CVS Health, which acquired Aetna in 2018.