Assigned Reading: AP Finally Reports on Thin Insurance Industry Margins (FROM: HotAir)
The average profit margin for health insurers last year clocked in at an anemic 2.2%. What does that mean from the investor position? They would have done better to put their money into FDIC-insured savings accounts at their local bank, let alone a CD or other guaranteed investment device. A 2.2% profit margin would normally trigger a stockholder revolt.
In comparison, trial lawyers showed a profit margin of almost 14%, six times that of the health insurers. Do Democrats scream about villainous trial lawyers and windfall profits taxes on those that exploit the legal system and drive prices up across all American industries? No, because the trial lawyers share a good portion of their filthy lucre with Democrats.
I’m glad the AP finally decided to check facts on Democratic lies about the health-insurance industry. My question to them would be, what took you so long? And to the rest of the media, why haven’t you done any real reporting on this outrageous lie?
Ed Morrissey over at HotAir is a stud. I love that Web site, for reasons like this. I never saw the original Associated Press report but, my goodness, it needs to see the light of day.
Great job over there at HotAir.