2018-12-02 21:59:15 UTC
This is the dirty little secret that we are not supposed to talk
about. Health Insurance is nothing but a wasteful, inefficient
form of socialism. Republicans are trying to convince young
healthy people that insurance is a bad deal, that in the
aggregate, they will pay more in premiums than they will receive
in benefits. And they are right!! In order for the insurance
industry to turn a profit, they must rake in more in premiums than
they pay out in claims. These repubs don't seem to understand how
insurance works, or at least they are playing dumb. An insurance
plan is a social contract. The members of the society (those
paying premiums) have agreed to pay to protect everyone in the
society from future misfortune. Without a government-run
"socialist" health system, we rely on private insurers to
administer our socialized medicine, adding cost in the form of
profit and administrative costs.
In order for this profit to be anything but a horrendous waste of
money, insurance companies must provide a cost saving benefit
greater than the profit it extracts. Prior to the ACA, the
practice of denying coverage and deciding which procedures were
medically necessary did technically reduce costs (A long as you
don't count death, suffering, and personal bankruptcies as costs).
Even still, these cost saving methods were horribly inefficient,
driving millions of people away from insurance and into the
emergency room for the most expensive type of care.
When I was a "young healthy", I waited until I had a 103 degree
fever and literally dragged my ass 1 mile to the nearest hospital.
Extremely dehydrated and suffering from a severe case of strep
throat, I was admitted, hooked up to IVs, and spent 3 days in the
most expensive "hotel" in Pittsburgh (Shadyside Hospital). The
bill was $18,500 (And this was 1997. I shudder to think what the
damage would be today). The taxpayers of Pittsburgh and insurance
policy holders split the bill. Socialism.