That is simply wrong. Most health "insurance" companies no longer provide much actual insurance anymore. Instead they provide claims payment and administration services for self-insured employers who bear the risk. Furthermore the ACA imposed a minimum medical loss rate. So insurers have little financial incentive to deny claims anymore.
Agreed. Many large firms do self-insure at this point, relying on the 'insurance' companies for administration. In fact, my employer does this. However, it's not a popular thing to recognize the actual value that insurance companies and the folks who work for them contribute these days (and no, I don't work for an insurance company).
