Community Insurance

[Josh]

It is a middleman but I would make it non-profitas insurance (unfortianetly) in motoring is a mandatory requirement(in the UK at least) so I do not think it should be a reason for making a heap load of money.

There are already non-profit health insurance companies. The fact is that this stuff is expensive. Out of every dollar in premiums, most of it actually does go to claims.

 

[NewsCommunist]

Thanks. I found out it is even worse in the U.K as I would have to apply to the secetary of state first and hand over 1 million pounds ($1,586,595.00 about) Apparently that was some time ago so it has to be more now.
Such a shame. Maybe one day the dream can become a reality

 

[VolAgent]

Thanks. I found out it is even worse in the U.K as I would have to apply to the secetary of state first and hand over 1 million pounds ($1,586,595.00 about) Apparently that was some time ago so it has to be more now.
Such a shame. Maybe one day the dream can become a reality

There is a very good reason for that. An insurance company, which you will be, needs to have the financial ability to meet its obligations.

 

[Josh]

Thanks. I found out it is even worse in the U.K as I would have to apply to the secetary of state first and hand over 1 million pounds ($1,586,595.00 about) Apparently that was some time ago so it has to be more now.
Such a shame. Maybe one day the dream can become a reality

I'm going to go out on a limb here and suggest that you probably don't understand the issue.

I pay $138 for an unsubsidized catastrophic care plan. The trade I make with my health insurance company is that I pay them $138/month and they're on the hook for millions. Literally millions. Sure, I paid my premiums so far all this year and haven't used it at all, but if anyone in that risk pool has the need for millions of dollars of medical care the carrier is on the hook for millions.

The pool the way you're referring to it can't handle that kind of stress. You'd still need a reinsurance for any major claims as a stop-loss or it would risk being insolvent when people had major claims.

Do you know what the MLR issue is? Aside from a sticking point that has half or more of the health agents on here up in arms, it's a mandate requiring that 80-85% of premiums go directly to paying claims.

I'll let you in on a dirty secret no one wants to talk about: Health insurance isn't access to healthcare, it's just how you finance it. The real factors driving up the cost of healthcare are being largely ignored. Providers and pharmaceutical companies are still making BANK and no one is giving them any amount of trouble over it. Try asking a physician for a price list on the top 10 most common services, you won't get it. The average cost of treatment for most conditions in the States far exceeds anywhere else in the world and not because it's better care. A woman in Arizona had an $80,000 hospital bill for getting two treatments for a scorpion sting. You know how much each treatment would cost across the border to the south from a qualified medical facility? To the tune of a few hundred bucks.

To put it another way, if you think the health insurance companies are to blame for the cost of healthcare that's like saying your bank is why your car payment is so high when you're driving a 2015 Ferrari. To take that a step further, it's like complaining about the total cost of vehicle ownership. You could get a more sensible vehicle with lower repair bills and fuel costs, but to complain that the bank that is financing the vehicle is to blame for the high payment is off base.

 

[NewsCommunist]

There is a very good reason for that. An insurance company, which you will be, needs to have the financial ability to meet its obligations.

Shame really but if you are going to provide a legal obligation then i guess that has to be.

 

[VolAgent]

Shame really but if you are going to provide a legal obligation then i guess that has to be.

How is that a shame? Who wants insurance from a company or organization that is unable to meet its obligations???

 

[NewsCommunist]

That is true but I am not saying that the healthcare in the US is expensive because of insurance that is far from the case. I had no intentions of going into healthcare insurance. There is no point for me as in the UK we get free health care (even though if it is not that good). I wanted to do car insurance. I know nothing about healthcare in the US and why would I need to? Why would I spend so much trouble to start a bussiness or charity, whatever it is I do not know now, in a country I do not have any connection with. I wanted there to be a non corrupt option for people to take out car insurance as it is not fair on people to have to pay car insurance when some of the money is paying for some person to have a $10,000,000 boat in Monaco.
I am aware that they are on a hook for millions and it could not take it. unless there were 80 million people in the scheme Which will never happen!
I am scrapping the idea anyway as I do not have a big rich daddy who will just give me $1,500,00. It is a shame
Yeh I can see want you mean though about I did not fully undertsand it as I missread the comment as I was in a rush. sorry

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I should probally address who I am talking to as this could get confusing
@VolAgent Yes it would not be a shame but it is a shame for me as I wanted to go through with this. I could not so I was dissapointed
(The first reply after you said about this was for Josh)

 

[VolAgent]

So, time for some honest language.

Are you lazy, unimaginative or both?

If you really think you are going to turn car insurance on its head, you can raise the capital to start an insurance company. It definitely is going to be a lot of work and you are going to need a polished presentation.

And then, you'll be on the boat in Monaco, because you earned it.

 

[NewsCommunist]

Have you not seen that I said "I am scrapping the idea anyway as I do not have a big rich daddy who will just give me $1,500,00" How can I turn car insurance onto its head when I do not want to do it.
Oh and if you want to know if I am lazy I do not know? It might be that I am unimaginative because I have a lot to learn.
Or it might be that I am only 13
You decide.

 

[goillini52]

Have you not seen that I said "I am scrapping the idea anyway as I do not have a big rich daddy who will just give me $1,500,00" How can I turn car insurance onto its head when I do not want to do it.
Oh and if you want to know if I am lazy I do not know? It might be that I am unimaginative because I have a lot to learn.
Or it might be that I am only 13
You decide.

A 13 year old communist...huh.