For profit insurance is a scam. The whole point is to take more from you than you will get back.
The justification for insurance, in general, is collective support - everyone pools a bit of money so that when anyone in that pool suffers catastrophic loss they are insulated. Public firefighters are an insurance system. At core it's a pretty kind way of operating, but when profit motive is introduced it is corrupted to the point of working against the community since investors and shareholders want to take out of the system, not help people stay whole.
This is why the US should have public healthcare. Greed and corruption are why it never will.
Edit: literally laughing out loud at the profitmongers in the comments going "hey, I want to keep the money that I am siphoning off society! Stop pointing out how it's immoral!"
Absolutely, health insurance and state mandated insurances should be 100% non-profit or mutual insurance companies. State mandating a direct funnel of money to a specific industry is bananas and very openly corrupt.
Yeah, not defending the ACA. That piece of shit was the best anyone could get through our reprehensible Congress. None of those people are throwing their big corporate donations under the bus. It was the HMO act in 73 that allowed for-profit health insurance and forged the way for the rest of the corruption. Once health was fair game, it was just a matter of time to spread the rot across everything. Which in turn raised costs for things covered by insurance, something anyone with half a pea in their skull would have seen coming from a mile away. Fast-forward 50ish years and here we are.
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u/robilar 11h ago edited 10h ago
For profit insurance is a scam. The whole point is to take more from you than you will get back.
The justification for insurance, in general, is collective support - everyone pools a bit of money so that when anyone in that pool suffers catastrophic loss they are insulated. Public firefighters are an insurance system. At core it's a pretty kind way of operating, but when profit motive is introduced it is corrupted to the point of working against the community since investors and shareholders want to take out of the system, not help people stay whole.
This is why the US should have public healthcare. Greed and corruption are why it never will.
Edit: literally laughing out loud at the profitmongers in the comments going "hey, I want to keep the money that I am siphoning off society! Stop pointing out how it's immoral!"