4 ms·
The market is a horrible contrivance, and insurance is fundamentally unworkable in a market, unlike actual services and products where you know what you're gett
by quadrangle 9y ago
The market is a horrible contrivance, and insurance is fundamentally unworkable in a market, unlike actual services and products where you know what you're getting and when you'll need it…
But that said, do you have even the tiniest bit of evidence that insurers actually do what you're saying in order to keep their costs up per ACA requirements??
There's all sorts of shenanigans in the industry, but your speculation sounds far-fetched. Remember Hanlon's Razor…
- Consultant32452 9y agoOccam's razor is a better fit here. In a world where they have to return any cost savings to the insured, what is the incentive to reduce costs?
- maxerickson 9y agoIn theory, competitive rate setting for premiums. Hasn't worked out that way in many places though.
- Consultant32452 9y agoThis is the fundamental flaw in the ACA. It did nothing to increase competition. In fact, increased regulation pushed some competitors out of the market. I can't tell whether this was a fool's errand or an intentional destruction of the market, pushing us towards socialization.