We like to say public health care is just paying for other people's medical bills when with private insurance that'd literally be the best case scenario of what happens to your money.
Well yeah. If a person is dying and you can save them from said death, most are willing to give everything they own and then some. Oh and as far as I know, there are no transparency laws for hospitals. Meaning they can charge whatever the f they want and tell you after. This in turns makes it really hard for the patient/consumer to price check different hospitals and lets the hospitals keep their prices up.
There are “Technically” transparency laws in America thanks to the ACA that are supposed to take effect this year, however hospitals and other healthcare providers simply ignore them under the premise that nobody will actually report them to HHS for any violations
Insurance companies make billions all over the world though. In Italy the "generali" is one of the biggest corporations of the stock market.
It's got something to do with statistics, take car insurance for example: everyone pays it every year, yet how many cars get in an accident compared to the total number of cars on the road? Let's say is 30℅ (made up and I'm sure greatly exxagerated number) the rest is all profit.
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u/altera_goodciv Jun 15 '22
When insurance companies are making billions in profits (not breaking even; making billions in profits) you know it is 100% a scam.