And on an EPS basis, the growth was substantially higher, with WellPoint's Earnings growth of 16.7% advancing to a massive 27.5% on an EPS growth basis, due to its huge stock buyback strategy. And the giant United Health's Earnings growth of 7.4% grew to 10.2% on an EPS growth basis.
In all fairness to the country's total health care system, there is no way that State Insurance Commissions should be approving insurance premium hikes that result in these windfall profit increases of the Big 5 Health Insurance Corps.
And I don't see why Aetna was recently allowed to acquire the 6th Biggest Health Insurance Corp Coventry Health Care. To bend down the long-term US health care cost curve, the country needs more health insurance companies, not fewer.
Below here are the Adjusted Earnings of these 5 Big Health Insurance Corps in both the 2Q 2013 and the 2Q 2012:
|2Q 2013||2Q 2012|
|mil $s||mil $s||Amount||%|
|Big Health Insurance Corps|
|Total all 5||3,704||3,253||451||14%|