> Car and homeowner's insurance only works /because/ insurers have imperfect data No, this is wrong. Common misunderstanding about the value of insurance. Even

> Car and homeowner's insurance only works /because/ insurers have imperfect data No, this is wrong. Common misunderstanding about the value of insurance. Even with perfect data, where your cash EV from buying into the insurance pool is guaranteed slightly negative, it's still (usually) a positive utility EV. Losing $100,000 is, for most people, much more than 100 times worse than paying $1,000. So if your $100k house has exactly a 1% chance of burning down, you're happy to pay $1000+ for fire insurance. Ah, of course, forcing young people, typically with less money, to subsidize older people, typically with more money, is very charitable to you. Are you incapable of telling the difference between "fuck other people" and "don't steal"? People should pay in according to their expected costs. Anything else amounts to intentionally transferring money from healthy people to unhealthy people. It's true that healthcare gets more expensive as you get older, so if you want to burn $5M keeping yourself alive another 5 years in the geriatric ward, you should be the one to bear that burden, not everyone else. Guaranteed external subsidies + rapidly diminishing returns = horrendously inneficient allocation of resources. I agree, businesses and doctors shouldn't have to deal with insurance bullshit, so I'm not sure why your proposed solution is to keep the same irrational overregulated "insurance" scheme we have now, which inherently requires a bureaucracy to A) force insurance companies and their customers to comply with imposed pricing rules and B) attempt to prevent people from taking advantage of the obvious economic discrepancies caused by (A).