Transcript: The first night of the second Democratic debate
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US health insurance industry reported net earnings of $23.4bn in 2018, a significant increase from $16.1bn in 2017.
Here is the quote you asked about Warren, ...."What it's going to take is real courage to fight back against them. These insurance companies do not have a God-given right to make $23 billion in profits and suck it out of our health care system...."
Tracked down the likely source for the number, seems to be from an industry group, National Association of Insurance Commissioners, which found 23.4 billion in net earnings, with a 3.3% profit margin from 1,010 firms. "... Table 1 below provides a 10‐year snapshot of the U.S. health insurance industry’s aggregate financial results for health entities who file with the NAIC on the health annual statement blank. The number of Health insurers filing the health statement type with the NAIC increased to 1,010 from 981 in 2017.The health insurance industry continued its tremendous growth trend as it experienced a significant increase in net earnings to $23.4 billion and an increase in the profit margin to 3.3% in 2018 compared to net earnings of $16.1 billion and a profit margin of 2.4% in 2017. The combined ratio decreased modestly to 97% from 97.2%. Included in the increase in profitability, health entities reported a $343 million increase in net investment income earned to $5.1 billion from $4.8 billion in 2017...."
Bill Rivers, Bruce Jensen and Hane Koenigsman, "U.S. Health Insurance Industry 2018 Annual Results," National Association of Insurance Commissioners, 2019, https://naic.org/documents/topic_insurance_industry_snapshots_2018_health_ins_ind_report.pdf
Washington Post Staff, "Transcript: The first night of the second Democratic debate,"Washington Post, July 30, 2019, https://www.washingtonpost.com/politics/2019/07/31/transcript-first-night-second-democratic-debate/


