US health insurers: higher bills to follow as seniors book deferred operations
US private health insurers had a good pandemic. Lockdowns and fear of infection prompted many Americans to steer clear of clinics. Even after the worst of Covid-19 had passed, patients deferred costly procedures such as knee surgeries. With premiums still rolling in, the country’s leading health insurers — UnitedHealth, Cigna, Elevance Health (formerly known as Anthem) and Humana — raked in record revenues and robust profits in each of the past three years.
The four collectively made $35.6bn in profits on $753bn of revenues last year. Shares have risen in tandem. The S&P Managed Health Care index hit a record high last October and remains 80 per cent above its pandemic lows.
This story originally appeared on: Financial Times - Author:Faqs of Insurances
