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Insurance is a worthless model where enough information is known to differentiate pricing between different classes of buyers. Asking insurers to pretend to be
by michaelmrose 6y ago
Insurance is a worthless model where enough information is known to differentiate pricing between different classes of buyers. Asking insurers to pretend to be stupid enough to price their products inaccurately even as more and more information becomes available and playing whack a mole with regulations is a losing battle. The only solution is to abandon insurance as a model for paying for health care.
- cowpig 6y agoI've honestly never understood why anyone would advocate for anything other than a socialized health system. Consumers cannot exit the market for health services. So we will never get the benefits of a free-market economy. A "free" market where consumers cannot exit will always trend towards becoming the most expensive the economy can bear. I think the main reason this doesn't trend all the way towards this theoretical extreme is that people don't really get into healthcare just to make money.