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Health insurance companies used to collect a majority of their premium dollars from people who had coverage through their jobs, but their growing stake in running government health care programs has consumed a larger share of premiums over the past decade.

The big picture: Don't expect this to slow down. More low-income people have gained private Medicaid coverage through the Affordable Care Act, more states are privatizing their Medicaid programs, and more seniors are switching to privately run Medicare Advantage plans.

By the numbers, per data from credit ratings agency A.M. Best:

  • Managed Medicaid, in which states outsource their programs to health insurers, represented only 10% of insurer premiums in 2007. That ballooned to 27% as of last year.
  • Medicare Advantage rose from 17% of premiums in 2007 to almost 25% in 2017. Republicans and Democrats support the program, but it has been tied to waste and over-billing.
  • Commercial premiums have declined from 58% in 2007 to 38% last year.
  • The commercial portion includes the ACA's individual exchanges, where taxpayers cover the vast majority of enrollees' premiums.

The bottom line: Taxpayers are directly funding more of the operations of the health insurance industry.

The other side: A.M. Best said a larger share of government health care programs poses financial and political risks for insurers due to "a greater reliance on state and federal funding, as well as a growing dependence on federal rules and regulations."

Go deeper

Updated 47 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Rae Cook/Axios

  1. Health: Coronavirus cases hit a seven-month low — Majority back vaccine proof requirements for travel, schools and work — The race to avoid a possible "monster" COVID variant.
  2. Politics: Why Biden's latest vaccine goal is his hardest yet.
  3. Vaccines: Pfizer begins application for full FDA approval of COVID-19 vaccine — Moderna says its COVID booster shot shows promise against variants.
  4. Economy: U.S. adds just 266,000 jobs in April, far below expectations — Americans' return to the skies could benefit smaller airlines.
  5. World: Amazon postpones Prime Day sales in India and Canada over coronavirus surge — Mixed response in Europe to Biden's vaccine patents bombshell — True COVID-19 death toll is double the official numbers, study finds.
  6. Variant tracker: Where different strains are spreading.

Derek Chauvin, 3 former officers indicted on federal civil rights charges

Photo: Stephen Maturen via Getty Images

A federal grand jury Friday has indicted Derek Chauvin and three other former Minneapolis officers for civil rights violations related to the death of George Floyd.

Why it matters: The new charges mean the officers could face another high-profile criminal trial following a yearlong racial reckoning across the nation.

U.S. adds just 266,000 jobs in April, far below expectations

Data: FRED; Chart: Axios Visuals

The U.S. economy added a mere 266,000 jobs last month. Forecasters had floated gains close to 1 million, making this the biggest miss, relative to expectations, in decades.

Why it matters: It's a major setback for the hopes of a speedy labor-market recovery alongside America's great reopening.