The insurers’ success comes as small healthcare providers face unprecedented financial stress and millions of Americans struggle to cover health costs. CVS Health, which owns the Aetna health insurance provider and drugstores, reported $2.2bn in profits, up from $2bn in the same quarter a year before. Together, the companies represent the country’s five biggest health insurers by membership. Health insurers have been insulated from this stress because there were sharp declines in expensive, elective procedures, such as hip replacement surgery. “American consumers, businesses and taxpayers are protected by provisions in federal and state laws that require health insurance providers to deliver premium rebates and put money back into their pockets,” Eyles said.

Source: The Guardian May 08, 2021 09:00 UTC