News Headlines Article

Health insurers take heat for rise in profits
Los Angeles Times - Noam Levey

As the nation struggled last year with rising healthcare costs and a recession, the five largest health insurance companies racked up combined profits of $12.2 billion — up 56% over 2008, according to a new report by liberal healthcare activists. Based on company financial reports for 2009 filed with the Securities and Exchange Commission, the report said, insurers WellPoint Inc., UnitedHealth Group, Cigna Corp., Aetna Inc. and Humana Inc. covered 2.7 million fewer people than they did the year before.