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- #81
How do you propose they figure "actual costs"?Given that insurance companies are all about $$$, I'd be willing to bet they don't calculate their family rates based upon only one child. They no doubt take an average (maybe a bit more) and go from there.
At my last job, the only choices were 'employee' and 'family'.
And finally the truth is skirted around.
Instead of taking the time to figure actual costs, the insurance lobby paid congress to allow them to charge small families, who decided to restrict the number of children they had for whatever reason, the same as large families, increasing their profits in doing so.
Since virtually all of the insurance plans sold through employers are like this and since employer provided insurance pretty much IS the marketplace here in America, I say with confidence, so much for the concept of 'competition' in the current insurance market.
I honestly don't know... I kind of favor a single payer system that is run based on rules instead of profits.
It works for Social Security - 1.2% efficiency is pretty impressive to this average Joe.
That means that for every dollar you pay in FICA taxes (premiums) only 1.2 pennies is used for overhead and administration. Private, for profit insurance needs to spend 22 to 25 pennies of your premium dollar for overhead, but then again, the Social Security Administration doesn't have all those pesky million-dollar executives to satisfy that for-profit insurance does.