> But insurance companies are more profitable when they don’t cover the medications of their customers
This isn’t accurate. Insurance companies have legal fixed profit margins as a percent of spending, so they want this to be as high as possible. This creates a vested interest in both maintaining high prices and spending.
In an area with multiple health insurance companies, they can’t just keep spending more and keep raising premiums otherwise a competing insurer will take their business with lower premiums.
This isn’t accurate. Insurance companies have legal fixed profit margins as a percent of spending, so they want this to be as high as possible. This creates a vested interest in both maintaining high prices and spending.