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Is it risk amortization because we just can't predict certain health issues? Let's suppose that we had a "health oracle" (or something not too far off) to predi
by Scene_Cast2 3y ago
Is it risk amortization because we just can't predict certain health issues? Let's suppose that we had a "health oracle" (or something not too far off) to predict medical issues in individuals. How would you structure health insurance in that case?
- soulbadguy 3y agoIf we had a health oracle, what would be the point of health insurance ? I think with a 100% health oracle, health inssurance will become more like group buys for negotiating better prices with health providers.
- lotsofpulp 3y agoThat is why the industry term for health insurers in the US is “managed care organizations” (MCOs). When you (or your employer) buys a policy from UNH, Elevance, Cigna, CVS, Humana, etc, part of what they pay for is access to the MCOs pricing services. And vetting services to minimize errors/fraud (a process which itself is ridden with errors/fraud).