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No, medical insurance isn't a waste, because the cost of not having it can be extremely high, not just in dollar terms. Happiness (100% x losing $1000 + 1% x h
by wisty 16y ago
No, medical insurance isn't a waste, because the cost of not having it can be extremely high, not just in dollar terms.
Happiness (100% x losing $1000 + 1% x having a free necessary operation) > Happiness (1% x not being able to afford a necessary operation).
- bugsy 16y agoIn the US routine medical care costs less than the cost of insurance. When you get a serious illness like cancer, the insurance company rescinds your policy and then you become uninsurable and die. Insurance does cover the odd accident though, but they will fight tooth and nail over whether you need therapy to learn to walk again.