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The Explosion of Health Insurance Profits: A Deeper Look

Over the past decade, the American health insurance industry has undergone a dramatic transformation, with the six largest for-profit insurers—Anthem, Centene, Cigna, CVS/Aetna, Humana, and UnitedHealth—experiencing an explosive increase in profits and revenues. This growth, largely driven by strategic mergers, acquisitions, and a shift towards government-funded programs, has reshaped the industry. When the Affordable Care Act (ACA) was enacted in 2010, it expanded access to health insurance, boosting the combined revenue of these companies from $245.2 billion in 2010 to over $1.1 trillion by 2021. During this period, profits more than tripled, soaring from $16.9 billion to $60.7 billion. While these financial gains reflect the insurers’ ability to capitalize on the ACA and broader healthcare trends, they also highlight growing concerns for consumers, who face rising premiums, deductibles, and out-of-pocket costs despite the industry’s unprecedented profitability .

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Why Ownership Matters:

At Haven Home Health and Hospice, we are proud to be the last locally-owned, independent, and clinician-led provider of home-based care in our region. While that may sound like a simple fact, it’s actually a defining difference—one that matters deeply to the quality of care our patients receive every day. In recent years, private equity firms and large corporate healthcare chains have rapidly bought out home health and hospice providers across the country, including right here in our community. What we’ve seen in the aftermath is troubling: rapid turnover of staff, shrinking time spent with patients, and decisions driven more by profit margins than by compassion, dignity, and clinical excellence. 

When ownership shifts from caregivers to corporations, priorities shift too. 

We believe healthcare should never be treated like a commodity. That’s why we’ve remained committed to local, clinician-led ownership—because we answer to patients, not shareholders. Our leadership is hands-on, involved, and invested in every life we touch. We believe that meaningful care takes time, intention, and heart—and it starts with the people who make the decisions. As owners who are also licensed clinicians, we understand the weight of the responsibility we carry. Our patients are not numbers in a spreadsheet. They are parents, grandparents, neighbors, and friends. And we believe they deserve the kind of care we’d want for our own families. We will continue to stand against the corporatization of healthcare, and we invite you to stand with us. Whether you’re a patient, a referral partner, or a member of the community, your trust makes it possible for us to preserve something rare and essential in today’s healthcare system: personalized, human-centered care. Because in the end, ownership isn’t just about who signs the papers—it’s about who shows up when it matters most.

– John Ray, Founder

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