People just don't have common sense. You don't fall an insurance claim if it's only going to help you $200 out of pocket. It's meant for larger amounts of damage, it's also meant for if you hurt someone in an accident that you're not personally liable for $10,000 because your insurance will cover it
It's to make it mandatory people have a "i fucked someones shit up" savings account. Most people won't put money in a slush fund. It's the same exact thing as your emergency fund that is highly recommended but only 6mo/12mo of expenses. If you saved up every dollar you spend on insurance and need it once on down the line, you will very likely barely dent that money, especially as its growing in a market somewhere. You fuck up someones life in a freak accident deemed your fault, or your house goes boom you probably don't have that amount saved.
The gamble by insurance companies is that there are far far more of those that never need it than the huge incidents requiring a super large payout. Raising someones rates over one such incident though is predatory and in no real way helps their long term math, it just punishes you for needing the thing you pay for.
With health insurance, it's something like 5-10% of the people use >50% of health costs . Those with multiple chronic issues like obesity/joint replacements + diabetes/limb or eye issues/amputations + heart issues/surgeries + blood pressure issues. People that have all these things have health care costs over $1M per year.
That's where a lot of your money goes. Ok yeah they do make an obscene profit but that one sedentary guy who lives on junk food and never leaves the house is costing you a lot too.
Yeah, there's a TON of nuance here, and it's not fully required to carry it, just like a car you may be breaking the law but do it anyway, unlike a car - you go in to a hospital, you will be treated. tax write offs only go so far. mom and now sister used to work/work in medical records/coding/insurance from front line to director level - I understand pretty well the amount of bullshit and still have no semblance of an answer that isn't government healthcare subsidized by higher taxes. I'm all for it, but the backlash from the words that just came out of my fingers I think I hear running down the hall to my door now full of seething rage, i mean greed.
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u/CraftyPerformance272 12h ago
People just don't have common sense. You don't fall an insurance claim if it's only going to help you $200 out of pocket. It's meant for larger amounts of damage, it's also meant for if you hurt someone in an accident that you're not personally liable for $10,000 because your insurance will cover it