Just what is insurance & how does it work?

[AztecWilliam]

Insurance deals with the management of risks. What we see in ObamaCare really goes beyond the original concept of insurance, and that fact is one of the act's basic flaws. I wonder whether any of our members deals with insurance for a living. If so, I hope that he or she will read this piece and give us some expert views on whether Sowell has not it right.

www.realclearpolitics.com/articles/2012/08/28/risky_business_115225.html

AzWm

[AlwaysAnAztec]

I am not in the insurance business but do have an opinion. ;D

The article dealt with the 'theory' of insurance and risk. Of course, any insurance company left on its own would try and limit risk. That is why it is so hard to get insurance if you have ANY pre-existing condition. That is why insurance companies deny claims even when they are legitimate. If insurance companies had their way they would not pay anyone unless sued.

Spreading the risk is the basis of "Obamacare". I'm upset that they have so many loopholes. EVERYONE should participate.

[aztecwin]

Yoda is in the Insurance Business I think. If he weighs in it will be a pretty good opinion.

I think Sowell gets it pretty close to right. The more things that you mandate be covered the more expense. The more levels of bureaucratic oversight and it will get more expensive.

[JOCAZTEC]

I am sure all the insurance buffs will like to pipe in on,

"no pre-existing conditions".

DUH.

If this obainmacare idea spreads, I have some swampland, locally to sell you...

HAM TAX

[JOCAZTEC]

It used to be before 1978, that you could afford a family doctor.

Then, in 1978 under Carter, they passed laws (currently is the push for Tort Reform to remove these) that made it so easy to sue your doctor. Many experienced and well-qualifed doctors left the industry.

Then, it became, can you afford a PPO/HMO monthly payment? Because of the lowering of quality of medicine due to the absence of qualified and experienced doctors (yeah some stayed on...) and the huge, sudden increase in lawsuits and the costs, the insurance bill kept increasing.

Now, rather than going back to family doctor affordability, the prezident is going to add three or four, salaried, vacation-paid, pension-paid, sick-leave paid, stipend, government employees to each PPO/HMO well-care provider (did you notice how there really isn't any more use of the word, "doctor" in the defunct medical industry?)



Just wait until I get my free health care. I am going to fix my feet, right hand, and have an ear enlargement surgery, and face lift, maybe a few times ta-boot, and that special surgery that increases my height about an inch or two...

It's all going to be free! Ya-hoo...

...dot com.

HAMTAX