“According to public tax records, Cedars Sinai in Beverly Hills had an income surplus of $750 million in 2022 and paid no federal taxes.”
Kaiser Family Foundation put the value of nonprofit hospital tax exemptions at $28 billion in 2020. A 2021 Health Affairs study found for-profit hospitals gave 65% more charity care than the nonprofits. Much of the “charity” is legally required emergency care, booked at the inflated sticker price minus whatever collections squeezed out of the patient. Memorial Sloan Kettering cleared $400 million, paid its top three administrators nearly $20 million, and paid no federal tax.