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The beginning of 2022 was kinder to health insurers than it was to hospitals.

Many hospitals endured their most financially turbulent period of the pandemic, as the cushion of federal bailout funds faded and labor and supply costs exploded. Conversely, while health insurance companies paid out more to hospitals and doctors than they did a year ago, insurers arguably remain as rich and diversified as ever — especially as they dip even further into taxpayer-funded insurance programs.

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