They can, in fact, have their billions of profits while not putting their customers in the grave. It's just slightly less profit than they currently get.
Squeezing the blood from the stone here is entirely a choice.
That shows the gross margin of insurance companies (based on premiums vs paid claims). Note that it's negative in some states, and also that's gross margin - so all the insurance companies' costs need to be paid out of that.
They are not making as much profit as you think they are.
How much do you think they should be entitled to make?
If the answer is zero, why would anyone invest in a company that can’t make money?
If the answer is that healthcare should be run by the government, why are you blaming the CEO instead of politicians?
Who has a greater moral accountability to the public - politicians or corporate CEOs?
The correct answer is “both, they are willing accomplices”.