Regular reader (and frequent commenter) Scott M clued us into a very interesting document he recently received. Like myself, Bob and Bill, Scott is an independent agent with many years of experience in the health insurance field. The missive comes from Aetna, which broke down how premium dollars are actually spent.
This particular piece is about 2 years old; I went poking around the Aetna site for an updated version, to no avail. However, I doubt that the actual numbers have changed that much in the meantime.
There are some interesting factoids here:
■ Almost 80 cents of every premium dollar is paid out to providers
■ About 6% is profits (not too shabby, but certainly not outlandish)
■ Surprisingly, state and federal taxes amount to only about 4%
There's more, and it's available for download right here.
[Hat Tip: Scott M]