Health insurance is doomed to failure

[NYcarbineer]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

 

[IDNeon]

Insurance is a pyramid scheme. You take money from the base of the pyramid, pay most of it to the top of the pyramid (the accidental loss) and keep a cut for yourself.

Now ask yourself.

Would car insurance work if 100% of everyone got into a car accident?

No it fucking wouldn't who the fuck would insure someone 100% likely to get in a goddamned accident.

100% of everyone is going to die a slow painful agonizingly expensive death because America believes your vegetable life is precious and hellbound American cultists who call themselves Christian are so afraid of death they will spend all the money their insurance policies will dole out to live one more year wallowing in their own shit.

You clearly dont understand how insurance works. Why is this not surprising?

Yawn yes I do. Your rebuttal is sheisse. Come back when you're willing to be a grown up.

If 100% of your clients are going to call for insurance then that's not insurance but an annuity which works entirely different from an insurance company.

In an annuity an endowment of specified amount is saved and invested and a certain rate of return and drawn upon at a certain set rate so that it will last a confident amount of time.

Insurance is when AN ACCIDENT OCCURS and you draw upon a legal claim which has no restrictions based on performance putting the insurance company at risk if they mismanage the capitalization.

Well guess what...everyone is going to have a health related accident whether it is a heart attack or your brain bruising on the inside of Your skull when you sneeze because it's too small and doesn't fit snuggly.

If your theory was correct then life insurance would have failed ages ago.

Most life insurance is actually an annuity. The rest won't pay for natural cause of death.

I really don't think you bozos know anything about finance

 

[PaintMyHouse]

Would car insurance work if 100% of everyone got into a car accident?

That's why your car insurance costs a few hundred bucks a year and your health insurance costs thousands.

That's his point. Everyone gets sick and uses health insurance, probably every year not to mention the insanity here at the end of their life, but people can go decades without getting in a car accident. One way the numbers work, and one way they don't, especially for per-existing conditions. While car insurance makes sense being private, health insurance does not, and you shouldn't get either from your employer.

 

[IDNeon]

Your concept of insurance is completely incorrect as is your idea of healthcare. not everyone is going to have 'a slow painful agonizingly expensive death' as many people simply keel over when the time is right. Others are less expensive and others just live forever with the most expensive illnesses imaginable. The key is risk and that is what insurance does - it predicts risk of a group and then divides the cost of that risk by the whole.

Do I need to quote for you the average cost of death in an American hospital for you to prove you wrong?

It cost $10,000 per day to stay in a hospital in 2011.

Health care in the United States - Wikipedia the free encyclopedia

What does that mean for your health savings plan...I mean...insurance plan? Did you put in enough to take out $10k a day?

No...duh

None of that addresses any points I made or the fact that you still do not understand what insurance even means.

Why are you mentioning health savings plans by the way? I thought you wanted to bitch about insurance.

I was referring to health savings plan in the facetious context of your mislabelling health savings plans as "insurance".

Insurance literally is you put little money into it expecting never to collect and a few who happen to get into accidents are the ones who collect.

I never labeled anything as a health savings plan and, again, your idea of insurance is flat out incorrect - period. I already corrected you on what insurance is - apparently you are not interested in understanding anything.

You said insurance is about risk..OK what's the risk of you dying and therefore charging a medical bill in the process?

100%

You're outta here

 

[The Rabbi]

Your concept of insurance is completely incorrect as is your idea of healthcare. not everyone is going to have 'a slow painful agonizingly expensive death' as many people simply keel over when the time is right. Others are less expensive and others just live forever with the most expensive illnesses imaginable. The key is risk and that is what insurance does - it predicts risk of a group and then divides the cost of that risk by the whole.

Do I need to quote for you the average cost of death in an American hospital for you to prove you wrong?

It cost $10,000 per day to stay in a hospital in 2011.

Health care in the United States - Wikipedia the free encyclopedia

What does that mean for your health savings plan...I mean...insurance plan? Did you put in enough to take out $10k a day?

No...duh

None of that addresses any points I made or the fact that you still do not understand what insurance even means.

Why are you mentioning health savings plans by the way? I thought you wanted to bitch about insurance.

I was referring to health savings plan in the facetious context of your mislabelling health savings plans as "insurance".

Insurance literally is you put little money into it expecting never to collect and a few who happen to get into accidents are the ones who collect.

I never labeled anything as a health savings plan and, again, your idea of insurance is flat out incorrect - period. I already corrected you on what insurance is - apparently you are not interested in understanding anything.

Still trying to teach the pig to sing?

 

[PaintMyHouse]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

 

[The Rabbi]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

What have you done with NYCarbineer?

 

[IDNeon]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

Not if you're guaranteed to take out more than you put in.

 

[NYcarbineer]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

What have you done with NYCarbineer?

I tried to make it clear I was referring to the 'ideal' that is far from reality.

 

[PaintMyHouse]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

Not if you're guaranteed to take out more than you put in.

That's correct, which is why if you're sick, just like if you're a bad driver, nobody wants you on their books. Good drivers and healthy young people aren't the issue, which is why capitalism has no answer for people who cost more than they pay in, like the old and the sick.

 

[NYcarbineer]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

I'm just saying that whatever else healthcare might be, at the basic level it's just another provider of goods and services at a cost. Given that, and setting aside everything else, the most financially efficient way for an individual to acquire goods and services is to pay for them directly out of pocket,

and insure only the possible scenarios where the sudden cost could be more damaging than the cost of the insurance over time.

Insurance over the long run is a net cost to most people; it has to be because that's how insurance companies make money. The less of it you buy, the less your cost over time.

 

[NYcarbineer]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

Not if you're guaranteed to take out more than you put in.

That's what actuaries are paid to calculate, and no, not everyone is guaranteed to take out more than they put in, as long as the amount put in has been set high enough.

 

[PaintMyHouse]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

I'm just saying that whatever else healthcare might be, at the basic level it's just another provider of goods and services at a cost. Given that, and setting aside everything else, the most financially efficient way for an individual to acquire goods and services is to pay for them directly out of pocket,

and insure only the possible scenarios where the sudden cost could be more damaging than the cost of the insurance over time.

Insurance over the long run is a net cost to most people; it has to be because that's how insurance companies make money. The less of it you buy, the less your cost over time.

Healthcare to me is Public Health, and should be treated as such. If you want to pay up for the frills, please do.

 

[IDNeon]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

Not if you're guaranteed to take out more than you put in.

That's what actuaries are paid to calculate, and no, not everyone is guaranteed to take out more than they put in, as long as the amount put in has been set high enough.

You can't possibly set it high enough. Literally the average cost of a hospital stay is $10k a day.

 

[PaintMyHouse]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

Not if you're guaranteed to take out more than you put in.

That's what actuaries are paid to calculate, and no, not everyone is guaranteed to take out more than they put in, as long as the amount put in has been set high enough.

You can't possibly set it high enough. Literally the average cost of a hospital stay is $10k a day.

There is always a number. It might be insane but you can always find a number, it's a numbers game. If you really want to save money, make it cheap to see the doctor early and then be reasonable about the end of life, including euthanasia. We dump tons of cash on people who are literally better off dead.

 

[NYcarbineer]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

Not if you're guaranteed to take out more than you put in.

That's what actuaries are paid to calculate, and no, not everyone is guaranteed to take out more than they put in, as long as the amount put in has been set high enough.

You can't possibly set it high enough. Literally the average cost of a hospital stay is $10k a day.

How many health insurance companies have gone bankrupt in the last 20 years, compared to how many haven't?

 

[NYcarbineer]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

I'm just saying that whatever else healthcare might be, at the basic level it's just another provider of goods and services at a cost. Given that, and setting aside everything else, the most financially efficient way for an individual to acquire goods and services is to pay for them directly out of pocket,

and insure only the possible scenarios where the sudden cost could be more damaging than the cost of the insurance over time.

Insurance over the long run is a net cost to most people; it has to be because that's how insurance companies make money. The less of it you buy, the less your cost over time.

Healthcare to me is Public Health, and should be treated as such. If you want to pay up for the frills, please do.

I'd exhaust my day's allotment of energy if I tried to explain why I used the word 'ideally'.

 

[The Rabbi]

Ideally the only health insurance a person should have is catastrophic, but the ideal never happens...

No, spreading the risk is fine. If for nine years you use little and then in the tenth year a lot that's a perfectly good way to spread the risk and cover the bills.

I'm just saying that whatever else healthcare might be, at the basic level it's just another provider of goods and services at a cost. Given that, and setting aside everything else, the most financially efficient way for an individual to acquire goods and services is to pay for them directly out of pocket,

and insure only the possible scenarios where the sudden cost could be more damaging than the cost of the insurance over time.

Insurance over the long run is a net cost to most people; it has to be because that's how insurance companies make money. The less of it you buy, the less your cost over time.

Whatever it is you've been smoking, keep smoking it. This is the most sensibel thing I've seen you say.

 

[thereisnospoon]

Insurance is a pyramid scheme. You take money from the base of the pyramid, pay most of it to the top of the pyramid (the accidental loss) and keep a cut for yourself.

Now ask yourself.

Would car insurance work if 100% of everyone got into a car accident?

No it fucking wouldn't who the fuck would insure someone 100% likely to get in a goddamned accident.

100% of everyone is going to die a slow painful agonizingly expensive death because America believes your vegetable life is precious and hellbound American cultists who call themselves Christian are so afraid of death they will spend all the money their insurance policies will dole out to live one more year wallowing in their own shit.

Another noob who thinks they are ready to sit at the adult's table....

 

[thereisnospoon]

Insurance is a pyramid scheme. You take money from the base of the pyramid, pay most of it to the top of the pyramid (the accidental loss) and keep a cut for yourself.

Now ask yourself.

Would car insurance work if 100% of everyone got into a car accident?

No it fucking wouldn't who the fuck would insure someone 100% likely to get in a goddamned accident.

100% of everyone is going to die a slow painful agonizingly expensive death because America believes your vegetable life is precious and hellbound American cultists who call themselves Christian are so afraid of death they will spend all the money their insurance policies will dole out to live one more year wallowing in their own shit.

You clearly dont understand how insurance works. Why is this not surprising?

Yawn yes I do. Your rebuttal is sheisse. Come back when you're willing to be a grown up.

If 100% of your clients are going to call for insurance then that's not insurance but an annuity which works entirely different from an insurance company.

In an annuity an endowment of specified amount is saved and invested and a certain rate of return and drawn upon at a certain set rate so that it will last a confident amount of time.

Insurance is when AN ACCIDENT OCCURS and you draw upon a legal claim which has no restrictions based on performance putting the insurance company at risk if they mismanage the capitalization.

Well guess what...everyone is going to have a health related accident whether it is a heart attack or your brain bruising on the inside of Your skull when you sneeze because it's too small and doesn't fit snuggly.

The purpose or concept of insurance is to pool the resources of the many to compensate for the losses of the few.