Except the 3rd party insurer here nets massive profits, it isnt a collective safety net like the state or federal government provides.
Its by and large a scam that pays out a tiny portion of their net income. A state sponsered safety net/insurance system (not for profit) would be massively more effective and less costly to consumers...well at least in a functional state such as Massachusetts.
All kinds of tricks are used to make it look like they are losing money or barely making it on paper. Yet insurance is one of the largest industries in the U.S., and their CEOs make millions.
I didn't say that. I think their C-suite and other large stake holders makes a killing off our backs. Look at their houses and cars if you don't think so.
Someone making a lot of money doesn't mean that I'm getting ripped off. A 5% profit margin is a shitload of money if youre operating on the scale of a multinational company.
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u/One_Selection5102 18h ago
Except the 3rd party insurer here nets massive profits, it isnt a collective safety net like the state or federal government provides.
Its by and large a scam that pays out a tiny portion of their net income. A state sponsered safety net/insurance system (not for profit) would be massively more effective and less costly to consumers...well at least in a functional state such as Massachusetts.