Health companies see decline from record profits of last year – but where is the scrutiny of such vast sums?
Five of America’s largest health insurers reported more than $11bn in profits in the second quarter – a decline from the same period last year when the Covid-19 pandemic helped drive sky-high profits.
The rise in profits last year was a result of people in the US seeking less medical care because of fears about Covid-19 while still paying for health insurance. Companies warned pent-up demand could have an effect on their bottom line, but medical use still has not returned to normal rates.
