Three of the biggest health insurers have announced quarterly earnings in the past few days. If Americans were able to eavesdrop on what executives from those firms tell their Wall Street masters every three months, they would have a better understanding of why premiums keep going up while the number of people with medical coverage keeps going down.
It only takes three words, when you get right down to it, to describe the real of those folks: profits over people.
CIGNA and Humana are scheduled to report earnings this week. The three companies that have already spoken -- UnitedHealth, WellPoint and Aetna -- earned a combined $2.51 billion from April through the end of June, more than analysts expected. On a per share basis, their earnings were up more than 17 percent on average compared with the second quarter of 2010.