A very fortunate few of us can go decades without exhibiting any illness and then suddenly drop dead, but that doesn't describe the experience of most of us. Pretty dang near everyone needs medical care from time to time. This led to quite a load of insurance regulation over the years-additional law that applies to a specific industry-and justifiably so, because it cut down on this abuse.But the fundamental model is about balancing risks between those who don't get into accidents and those who do.This doesn't translate well to the health insurance industry, because you can't really balance out those risks. Unethical insurers found early on that they could increase their profits by just not paying claims. People that pay into the system but never get into accidents wind up providing the funds to pay out to people that *do* get into accidents.Ethical insurance companies work this as a relatively straightforward system.
Cigna timely filing 2018 drivers#
You calculate the risks, charge enough to cover the payouts you are likely to incur, and try to keep your prices competitive while providing drivers incentive not to drive in ways that are likely to result in payouts. With regards to the GOP, I don't think they're being particularly Republican anymore, but I'll come back to that later.The fundamental problem with health insurance-and one we would be wise to understand up front-is that it involves an *inherent* conflict of interest, in ways that no other insurance scheme has.Making a profit as a car-insurance company is straightforward. It bears mentioning up front that I am a capitalist, that I don't have any particular beef with the insurance industry or the medical industry, and that I am a Republican in the Jeffersonian sense (but with enough Teddy Roosevelt that I don't have a lot of patience for corporate abuse).
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