“Big 5 insurers depend on Medicare, Medicaid for growth in enrollment, profits,” by Susan Morse, HealthCareFinance
“The nation’s five largest insurers are increasingly dependent on government programs such as Medicare and Medicaid for growth in enrollment, revenue and profits, according to a new Health Affairs study. UnitedHealthcare, Anthem, Aetna, Cigna, and Humana collectively cover 43 percent of the total U.S. insured population, the report said. Due in large part to an aging baby boomer population, Medicare and Medicaid account for nearly 60 percent of the big five’s revenues and 20 percent of their plan membership. . . . Medicare and Medicaid membership grew faster than other segments in all five companies, doubling from 12.8 million to 25.5 million from 2010 to 2016. In Medicaid alone, enrollment more than doubled from 2010 to 2016, increasing from 7 million to 15 million.”
LTC Comment (from Stephen A. Moses, President, Center for Long-Term Care Reform):
Private industry heavily dependent on insolvent government programs is a recipe for crony capitalism and eventual economic collapse.