Healthcare in the United States has become increasing unaffordable. One place this is most visible is in the growing revenues of health insurance companies.
The total revenues reported in the financial filings of the seven largest health insurance companies—Centene, Cigna, CVS Health/Aetna, Elevance, Humana, Molina, and UnitedHealth Group—tripled in the last decade. Their revenue grew from $511 billion in 2014 to $1,517 billion in 2024. In that time frame, the insurance companies collected $10.4 trillion in total revenue.
The stock prices of the health insurance companies have soared at an even higher rate than their revenues, outpacing the S&P 500.
