In an opinion piece for The Hill, Republican Congressman Greg Murphy, North Carolina, explains why he opposes for-profit health insurance. Make no mistake, Murphy is a capitalist. But, he recognizes that so long as corporate health insurers can put their shareholders interests’ ahead of their enrollees’ interests, their enrollees will face delays and denials of medically necessary care and some will dies needlessly.
He’s right. Whether it’s insurers, hospitals, nursing homes or dyalisis facilities, profit-making entities should not be in charge of our care. Their financial incentive is to do less in order to earn more. And, that will never be in our interest.
Murphy is a physician who practiced medicine for 35 years. He is taking on insurers because he has seen how profits are their first priority. The seven largest commercial insurers took in almost $1.7 trillion in 2025 and generated $54 billion in profits. Had they spent the money they generated on patient care–had they forsaken their profits–health care would cost a lot less.
Murphy supports profits. But, when it comes to corporate health insurers, they are making money off the backs of taxpayers, primarily on Medicare and Medicaid. UnitedHealth alone generates more than three quarters of its revenue from government programs.
Stock buybacks are another concern with corporate health insurers. When they buy back their own stock–and they have done so to the tune of $137 billion over the last ten years–they increase the price of their shares, enhancing their shareholders’ profits without helping their enrollees’ whatsoever. They could be reducing the premiums they charge with that money.
And, the problems with corporate health insurers are only getting worse as they profit more. They find new ways to deny and delay care, endangering the lives of their enrollees. They increase the cost of care and make it harder to get. His solution, truly, the only solution, end for-profit health insurance.
Here’s more from Just Care:
- Aetna, for-profit insurers do not serve public good
- For-profit hospitals are causing rising medical debt and personal bankruptcy
- Coronavirus: Should nursing homes be for-profit?
- For-profit PACE programs: Cause for worry?
- For-profit kidney dialysis: Profits before people
