Back in August, I wrote a blog entry that was titled: "Those Bad Health Insurance Companies". In that entry, I showed that the top health care insurers in America had profits ranging from 2-1/2 percent to just under 5%. Then, I compared those profits to companies like Apple, Microsoft and Johnson & Johnson; showing that their profits were at least double that of the health insurers. In fact, Johnson & Johnson's profits were almost 12 times higher than Humana's.
Now, the Associated Press has done their own study -- taking all the health insurers into account -- and their finding is that the industry, as a whole, barely makes a 6 percent profit in the good times and only 2.2% in the current recession (Click to See Full Story: "FACT CHECK: Health insurer profits not so fat").
I am glad to see that the Associated Press has taken a stand here and contradicted the lie that Obama and the Democrats keep pushing. We need more to come out and put a stop to all the distortions we are getting from the Democrats about ObamaCare.