In January 2012 the five major US healthcare companies posted their best profits since the recession started, suggesting Barack Obama’s healthcare reforms may not be as ‘socialist’ as his Republican opponents seem to think. A study released by Bloomberg showed the profit margins of WellPoint, UnitedHealth Group, Aetna Inc, Humana Inc, and Cigna Corp have actually increased since the new healthcare law was signed in 2010.

While ‘Obamacare’ will widen the eligibility for Medicaid – the government’s health program for people on low income – much of it will continue to be delivered by private companies. The study shows that for the first time in at least two decades, commercial business now accounts for less than half of the companies’ combined revenue. They have doubled their earnings from Medicaid, as well as increasing their revenue from Medicare – the government’s health program for the elderly and disabled – by a third, as they adapt to win more work from state-funded programmes.

Not bad, considering the same companies spent $86 million lobbying to stop the law being passed. The report also indicates that while the reforms may widen access to healthcare in the US, they are unlikely to undermine the corporate dominance of the sector.

United Health, Aetna and Humana all have contracts to provide NHS services in the UK.