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There are some other aspects to the “pre-existing condition” issue that a lot of people aren’t aware of. It is an area where insurance companies can really mess with you.For example, I have heard of cases where people in their 20s or 30s were diagnosed with illnesses that their insurance companies had classified as “pre-existing conditions” because they tend to be congenital conditions. Even though the conditions were not diagnosed until late in life because the symptoms didn’t immediately manifest themselves, that didn’t matter to their insurance companies; technically. they had a pre-existing condition and lied about it on their insurance application. They were immediately dropped.There was one specific disease that was mentioned in this regard, but unfortunately I don’t remember what it was. But when you think about it, now that we’re finding out how many health problems are genetic — or at least have genetic predispositions or genetic markers — this could ultimately potentially include any health issue that is not caused by an accident. I’m thinking here of something like breast cancer and how many women are having mastectomies because they have the genetic mutation of the BRCA1 gene that puts them at a much higher risk for it. For all those women with the mutation, breast cancer could probably theoretically be viewed as a pre-existing condition. Perhaps I’m being a bit of an alarmist here, but I wouldn’t hold my breath.A subset of this issue is something called the “prudent person” policy, which is legal in some states. This concept defines a “pre-existing conditon” as anything that causes symptoms for which a “prudent” person would have gotten a medical opinion. Obviously this is a much broader definition than the standard definition. It is also a definition that can generate much mischief; for example, sometimes symptoms of one condition will mask or alter those of another condition. And if you didn’t have insurance in the first place so you could afford to “prudently” get your symptoms checked, well, obviously you are out of luck.Still another issue is the issue of domestic abuse. This was touched on by K.C. Eynatten from State Farm: “We became aware that we were part of the reason a woman and her children might not leave an abuser. They were afraid they'd lose their insurance.” And as far as that goes, note that some insurers have actually classified domestic violence as a pre-existing condition — if you can believe such utter inhumanity.The whole concept of “pre-existing conditions” needs to be eradicated or drastically scaled back, by law. And if that means a company like UnitedHealthCare rakes in a profit of only $1.75 billion instead of $2 billion next year, I’ll try to whip up a few tears.

The healthcare sector includes companies that produce medical goods, such as drugs and medical devices, and companies that provide medical services, such as health insurance or hospital administration. Here are the 10 biggest healthcare companies based on 12-month trailing (TTM) revenue as of March 24, 2020.1 This list is limited to companies which are publicly traded in the U.S. or Canada, either directly or through ADRs.#1 CVS Health Corp. (CVS)Revenue (TTM): $257.3 billionNet Income (TTM): $6.6 billionMarket Cap: $69.2 billion1-Year Trailing Total Return: -2.1%Exchange: New York Stock ExchangeThe parent company of a leading drugstore chain, CVS Health Corp. also is among the biggest pharmacy benefit management (PBM) companies. Additionally, through its 2018 acquisition of Aetna, CVS has become a major player in health insurance.2#2 UnitedHealth Group Inc. (UNH)Revenue (TTM): $240.3 billionNet Income (TTM): $13.8 billionMarket Cap: $184.8 billion1-Year Trailing Total Return: -19.8%Exchange: New York Stock ExchangeUnitedHealth Group is a health insurance company that also provides data analytics and consulting services to healthcare providers, as well as pharmacy care services. Its principal divisions include UnitedHealthcare, OptumHealth, OptumInsight, and OptumRx.#3 McKesson Corp. (MCK)Revenue (TTM): $224.9 billionNet Income (TTM): -$917.0 millionMarket Cap: $18.7 billion1-Year Trailing Total Return: -1.2%Exchange: New York Stock ExchangeMcKesson Corp. is a distributor of pharmaceuticals and other medical products in the U.S., Canada, and Europe. Bansi Nagji, executive vice president and chief strategy and business development officer, is stepping down from this role effective March 31, 2020. He will remain with the company in an advisory role to smooth the transition. McKesson expects to name a successor within the next few months.3#4 AmerisourceBergen Corp. (ABC)Revenue (TTM): $182.1 billionNet Income (TTM): $649.4 millionMarket Cap: $15.2 billion1-Year Trailing Total Return: -4.4%Exchange: New York Stock ExchangeAmerisourceBergen Corp. is a distributor of medications and medical supplies. The company is in the process of exiting its PharMEDium compounding business as the result of "ongoing operational, regulatory, and commercial challenges."4#5 Cigna Corp. (CI)Revenue (TTM): $153.7 billionNet Income (TTM): $5.1 billionMarket Cap: $48.4 billion1-Year Trailing Total Return: -21.7%Exchange: New York Stock ExchangeCigna Corp. offers medical, life, and accident insurance products, as well as managed care services.#6 Cardinal Health Inc. (CAH)Revenue (TTM): $149.7 billionNet Income (TTM): -$4.2 billionMarket Cap: $12.0 billion1-Year Trailing Total Return: -12.3%Exchange: New York Stock ExchangeCardinal Health is a manufacturer of medical, surgical, and laboratory products, as well as a distributor of drugs and healthcare supplies. Effective May 12, 2020, Jason Hollar will assume the CFO post at Cardinal Health. He was most recently the chief financial officer (CFO) of automotive products and services company Tenneco Inc. (TEN).5#7 Walgreens Boots Alliance Inc. (WBA)Revenue (TTM): $137.4 billionNet Income (TTM): $3.7 billionMarket Cap: $38.6 billion1-Year Trailing Total Return: -27.8%Exchange: NasdaqWalgreens Boots Alliance operates drug stores in the U.S. under the Walgreens and Duane Reade names, as well as Boots drug stores in the U.K. and various other countries. In the U.S. during recent years, Walgreens has acquired a large number of store locations from competitor Rite Aid Corp. (RAD). The company is also a distributor of drugs and medical products, as well as the parent of online stores such as Walgreens: Pharmacy, Health & Wellness, Photo & More for You, Contact Lenses - Free Shipping on Discount Contacts | Walgreens | Walgreens, and Beauty Products | Walgreens.#8 Anthem Inc. (ANTM)Revenue (TTM): $104.2 billionNet Income (TTM): $4.8 billionMarket Cap: $44.1 billion1-Year Trailing Total Return: -41.4%Exchange: New York Stock ExchangeAnthem is a health insurance company that offers individual, employer-sponsored, Medicare, Telemedicine Application development and Medicaid plans. In 2020, Anthem completed the acquisition of Beacon Health Options, "the largest independently held behavioral health organization in the country serving more than 36 million people across all 50 states."6#9 Johnson & Johnson (JNJ)Revenue (TTM): $82.1 billionNet Income (TTM): $15.1 billionMarket Cap: $293.0 billion1-Year Trailing Total Return: -16.6%Exchange: New York Stock ExchangeJohnson & Johnson manufactures prescription pharmaceuticals, over-the-counter healthcare products, and medical devices. BAND-AID brand adhesive bandages are among its best-known consumer products. While noting that they are working with multiple organizations to develop "fast-track solutions" for the COVID-19 coronavirus, Johnson & Johnson warns investors to discount "anecdotal, unsubstantiated reports" that HIV treatment darunavir (DRV) may be effective against COVID-19. The company is screening various antiviral compounds, including darunavir, as possible COVID-19 treatments, but it is too early to tell which, if any, may prove to be effective.7#10 Centene Corp. (CNC)Revenue (TTM): $74.6 billionNet Income (TTM): $1.3 billionMarket Cap: $26.7 billion1-Year Trailing Total Return: -20.3%Exchange: New York Stock ExchangeCentene Corp. is a managed healthcare company, focusing on administering government-sponsored programs. In January 2020, Centene acquired WellCare Health Plans Inc., thereby increasing its market share in Medicaid, Medicare Advantage, and Medicare Prescription Drug Plans.8Compete Risk Free with $100,000 in Virtual CashPut your trading skills to the test with our FREE Stock Simulator. Compete with thousands of Investopedia traders and trade your way to the top! Submit trades in a virtual environment before you start risking your own money. 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