Why Your Health Insurer Doesn’t Care About Your Big Bills

LewisBraham

Good article:
https://propublica.org/article/why-your-health-insurer-does-not-care-about-your-big-bills?utm_source=pardot&utm_medium=email&utm_campaign=dailynewsletter

expatsp

Yes, an important article. Thanks for posting.

Old_Joe

This "system" is plain sick. The actual customer doesn't stand a chance.

Crash

It's not a system. It's a cluster-f***. But for the insurers, it's a gravy train. Scum pigs.

Anna

This quote from the ProPublica link seems somewhat obvious to me which is why I ceased to understand the "American way" a long time ago. It has something to do with self-reliance but I am not clever enough to appreciate the point. I've invisibly been on my knees praying during the national anthem for many years; praying for the country for which the anthem is only a symbol. We have VintageFreak for Education Secretary; any other volunteers?

Turns out, insurers don’t have to decrease spending to make money. They just have to accurately predict how much the people they insure will cost. That way they can set premiums to cover those costs — adding about 20 percent to for their administration and profit. If they’re right, they make money. If they’re wrong, they lose money. But, they aren’t too worried if they guess wrong. They can usually cover losses by raising rates the following year.

icyone

If you can manufacture a big enough and thick enough curtain to hide behind, you can screw the system for any amount. But in this case it seems that the insurers manufactured the curtain AND the system.