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IME the point of health insurance is simply to collect premiums and not to pay out. It is very much not to support health in any way whatsoever. In fact the in
by TheOtherHobbes 3y ago
IME the point of health insurance is simply to collect premiums and not to pay out.
It is very much not to support health in any way whatsoever. In fact the industry loves ill-health, because it's far more profitable than wellness.
Public not-for-profit health systems change that motivation into something that actually makes sense from a healthcare pov instead of just being an exercise in piratical opportunism.
Profiting from suffering without the slightest hint of altruism or empathy is simply sociopathic.
- gruez 3y ago>IME the point of health insurance is simply to collect premiums and not to pay out. ACA's medical loss ratio provisions basically makes this impossible: https://www.cms.gov/marketplace/private-health-insurance/medical-loss-ratio https://www.cms.gov/marketplace/private-health-insurance/med... That's not to say they're not incentivized to deny claims. If you are loose with what you pay out, you could lose money by paying out more than you take in.
- throwway120385 3y agoThey don't though, because I can buy an insurer and also a medical provider, and pay the medical provider the 80% and then collect my profits through my pet medical provider.