Definitive Reading: Profits of 14 Top Insurers Account for Two Days HCR Spending

Continuing to pierce the falsity that insurers make oodles of cash monnay:

In 2009, the largest 14 insurers had profits of roughly $9 billion; that approached 0.4 percent of total health spending of $2.472 trillion.

[…]

If total health spending is $2.472 trillion per year, that’s about $6.8 billion per day and $283 million per hour. So the profits from last year of $9 billion of the 14 largest insurers account for about 32 hours of annual spending on health care or less than two days of the total spending. It’s then all of the other costs that account for the rest of the 99.6% of spending and the other 363 days.

h/t Fleckman