If you took all -- all! -- of the annual profits of every health insurance company in the U.S., you could fund health insurance coverage for the entire American population for only two days. That's right: the profits of all U.S. health insurance companies equals two days of coverage for Americans. Yet these are the profits vilified by the Obama administration and Democrats in Congress.
The full ten-year cost of the Democrat health care bill offers taxpayers a $460 billion deficit. The second ten-year cost has a $1.4 trillion deficit. Dishonest accounting and hiding expenses doesn't make the bill reasonable.
14% of the population is on Medicare. 14% is on Medicaid. 9% receive government benefits. 4% are on military health plans. 43% receive coverage from their private employment. Only 6% of the population actually purchases their own insurance. Yet the Democrats want to destroy the insurance companies over this.
Five percent of the population uses 50% of all health care spending. These are the chronically ill, folks who suffer from multiple, serious health conditions. A study of 20,000 chronically ill patients was conducted recently. An intriguing discovery was made: because each patient took an average of 16 different prescription medicines, coordinated and holistic care could cut medication spending by 50% and save hundreds of thousands of dollars per patient.
Let me close by repeating: you could take the annual profits of the private health insurance companies and buy health insurance for people for two days.
Consider that the next time President Obama vilifies the 'obscene' profits of the insurance companies.
Hat tip: Excellence in Broadcasting.