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For 2020, the nation's largest insurer, UnitedHealth Group, reported its full-year 2020 profit of $15.4 billion, including $2.2 billion in profits for the fourth quarter. Humana (one of the four largest health insurers in the U.S.) reported a profit of $4.6 billion, a 40% increase over the company's 2019 profits of $3.5 billion. Cigna (another of the top four insurers in the U.S.) earned $8.5 billion in profits in 2020, a 66% increase from the company's profits of $5.1 billion for 2019. CVS Health posted annual gross profits for 2020 of $48.9 billion.
Healthcare in the U.S. is driven by profit motive just like any other business. Do you agree that it should be? What concerns does having our healthcare industry driven by profit motive raise? What benefits might there be to having a profit-driven healthcare system?
This document contains various important questions and their appropriate answers in the subject field of Economics.
Economics is the study of the principles governing the allocation of scarce means among competing ends when the objective of the allocation is to maximize the attainment of the ends.
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