Which is more evil? Google or Health Insurance Cos?
August 21, 2009
I learned a lot about the health insurance business this summer. First first thing I learned is that insurance companies are evil primarily because they make too much money. For example, here are three of the largest health insurance companies compared:
Aetna Inc. (AET): Profit Margin: 3.85% ($1.2B)
Unitedhealth Group Inc. (UNH): Profit Margin: 4.14% ($3.4B)
Tenet Healthcare Corp (THC): Profit Margin: 2.63% ($233MM)
Now lets look at Google. They aren’t evil are they? Right? I read it in their S1 – ‘don’t be evil’ or something like that.
Google (Goog): Profit Margin: 20.56% ($4.5B)
So based on Pelosi and Reid’s definition of evil (i.e. making too much of a profit) Google is four times as evil as United Health Care and ten times as evil as Tenet! Ouch. Who knew.
Ironically, more than 30% of all health insurance companies in the United States are ‘not for profit’ – that means they don’t make money. Do we need ‘co-ops’ when we have lots of ‘not for profit’ health insurance companies? I don’t think so. Why not just let ALL insurance companies operate in all 50 states. This would mean more competition and lower costs of regulation. Read more about my plan to reform health care here.
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