Its a form of gambling in a way. Its basically a money pool that pays out to a certian limit if its “members” need to use it.
I don’t have an issue specifically with people wanting to pool money together to cover emergency funding. We do that all the time with savings accounts, govt taxes and such, however, in all those cases, the books, the numbers are 100% known. There should NEVER be a situation where an insurance company is making more than 10% profit. I see upwards of 50% annually at times. If all it is, is just a money pool, with payouts, then the administrative overhead is the only actual cost and most valid charities keep administrative overhead to a maximum of 10%. In otherwords, these companies should be non-profit or we should allow non-profit insurance companies to directly compete in the market.
Insurance companies should give excess funds back to customers if they don’t use anything from their Insurance policy for a year – similar to annual taxes, whereupon if the government takes too much from you in taxes then you get a tax refund. As it stands now, Insurance companies are a scam that you are *legally required* to partake in, all the while the government does little to nothing to actually keep them in line.
The messangers voice and perceived intelligence are so important in a message.
There are currently public run property and casualty insurance risk pools. They’re fucking expensive. Making it run by the government isn’t going to automatically make things cheaper or more efficient.
What we really need is to allow the government to compete with private insurers. Giving either the government a monopoly on insurance is a bad idea.
Regulations: what % of claims are routinely declined….even after how many years of that claimed had been paying..% of years paid/claim approved…and many more…
Oh..but no…it’s the free of consequences market…where insurance companies deny climate change…but raise their rates because of climate change…🧐
Sounds great. Will never happen.
ITT: Nobody that understands risk.
What’s even better is even if you have a perfect record but gaps you get treated like a new customer even though you’ve only ever been a positive stream of income for them.
RFK 2024
Obamacare handed a monopoly to the biggest health insurance companies
10 comments
Its a form of gambling in a way. Its basically a money pool that pays out to a certian limit if its “members” need to use it.
I don’t have an issue specifically with people wanting to pool money together to cover emergency funding. We do that all the time with savings accounts, govt taxes and such, however, in all those cases, the books, the numbers are 100% known. There should NEVER be a situation where an insurance company is making more than 10% profit. I see upwards of 50% annually at times. If all it is, is just a money pool, with payouts, then the administrative overhead is the only actual cost and most valid charities keep administrative overhead to a maximum of 10%. In otherwords, these companies should be non-profit or we should allow non-profit insurance companies to directly compete in the market.
Insurance companies should give excess funds back to customers if they don’t use anything from their Insurance policy for a year – similar to annual taxes, whereupon if the government takes too much from you in taxes then you get a tax refund. As it stands now, Insurance companies are a scam that you are *legally required* to partake in, all the while the government does little to nothing to actually keep them in line.
The messangers voice and perceived intelligence are so important in a message.
There are currently public run property and casualty insurance risk pools. They’re fucking expensive. Making it run by the government isn’t going to automatically make things cheaper or more efficient.
What we really need is to allow the government to compete with private insurers. Giving either the government a monopoly on insurance is a bad idea.
Regulations: what % of claims are routinely declined….even after how many years of that claimed had been paying..% of years paid/claim approved…and many more…
Oh..but no…it’s the free of consequences market…where insurance companies deny climate change…but raise their rates because of climate change…🧐
Sounds great. Will never happen.
ITT: Nobody that understands risk.
What’s even better is even if you have a perfect record but gaps you get treated like a new customer even though you’ve only ever been a positive stream of income for them.
RFK 2024
Obamacare handed a monopoly to the biggest health insurance companies