Companies are making 75% of their profits off of taxpayers.
John,
Big health insurance companies are profiting at the expense of every single taxpayer, and their greed is only worsening.
First, a bit of background: Health insurance companies initially existed as non-profits to help people get the medical care they needed. But in the early 1990s, backed by Wall Street, they realized they could make billions off of American taxpayers by charging Medicare for inaccurate or inflated claims.
Big Insurance CEO’s are making upwards of $10 million per year because of taxpayers. Last year, our country’s largest insurer—UnitedHealth Group—made nearly 75% of their money off of taxpayers. Deductibles have increased more than 200% over the past decade, and UnitedHealth expects to bring in more than $300 billion in 2022 alone.
Even the COVID-19 pandemic hasn’t slowed their greed. Companies reduced coverage and left patients to pay surprise bills that would have previously been covered. That’s why I just introduced the Patients Before Profits Act, which prevents Big Insurance from renegotiating contracts and reimbursement rates during a pandemic.
Now I’m encouraging Congress to hold Big Insurance accountable and save taxpayer’s money. Rather than padding insurance companies' bottom lines, we should strengthen Medicare and expand its services and lower the eligibility age.
If you agree, sign my petition urging Congress to strengthen Medicare and pass legislation to hold Big Insurance accountable for ripping off Americans.
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Thanks for being on Team Porter!
Katie
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Congresswoman Katie Porter is fighting for affordable child care, lower cost prescription drugs, climate action, and a strong, stable, globally competitive economy that works for everyone. She’s standing up to corporate special interests and doesn’t take any money from corporate PACs or lobbyists, so we rely on grassroots supporters like you pitching in when they can. Make a contribution today.
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