this post was submitted on 24 Feb 2025
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The ACA (Obamacare) requires that health insurance companies spend at minimum 80% of their revenue on paying out claims, meaning profit is only what's left over from the remaining 20% after all other operating costs are addressed. They also need to reserve a certain portion of money to be available at hand for claims in case they exceed revenue for a period, similar to a bank. So unfortunately even a nonprofit health insurance organization is going to have high costs to its members simply because medical expenses are so high in America.