I can crash my car, hurt someone, ruin property, and be covered up to that amount..
Yes of course my insurance renewal cost will be sky high the second time around, but still not on the order of ,000 yr like health insurance premiums…
In most people’s lifetimes, they will probably never use 0,000 worth of HEALTH insurance…
So why should the premium be so high for health insurance in relation to car insurance premiums..
homeowners insurance, ,200 a year will cover about 0,000 for the replacement of a burned down house…
Again, only ,200 a year, and not likely to ever need it, but when the shit hits the fan, you get a new house….
I will have spent about ,000 in my lifetime for insurance for the protection of my home which in good times, will be valued higher as the years go by, and have a potential payout in the event of a fire in the 0,000 or more range..
In the same 40 year span, I will have spent 0,000 for health insurance, and may never even need that amount paid into it as actual coverage..
I know we pay for everyone else’s problems, but maybe health insurance can be like car insurance..
What do you think,,,
IN CT, I was told we have a health commisioner who sets mandatory minimums for premiums..
Didn’t believe it until I got a letter in the mail about state funded insurance saying the premiums underwent a "mandatory increase" their words not mine..
My car insurance is from Oklahoma..
I wish I could shop out of state..
Thomas 5:04 pm on April 22, 2010
health-quotes.talk4fun.net – here is my health insurance plan. As I remember they can provide such a service.
Turtle 5:04 pm on April 22, 2010
If you own a car and want to register it, you have to prove you have insurance.
If you want to buy a home you have to prove you have homeowner’s insurance.
You don’t have to have health insurance in this country. One of the reasons healthcare is so expensive is because of liability insurance that health care professionals have to carry; as well as, those with insurance end up footing the bill for those without insurance; also, insurance companies have no scruples and are greedy; also, you can buy auto and homeowner’s insurance from anyone in the US but not health insurance, you have to buy health insurance from a company in your state so there is a monopoly. There are many other factors, these are just the biggest.
Gordon O 5:04 pm on April 22, 2010
Makes sense only if the insurance companies are making enough money to pay obscene bonuses
Chris 5:04 pm on April 22, 2010
the price is determined by supply and demand, if the price was any lower (given current ATC, MR AND MC curves) the quantity supplied will be lower, the quantity demanded would be higher…right now quantity supplied and demanded are equal, if QS was to lower, and QD was to raise, QS<QD, which is a shortage of supply in the market. It’s really not that complicated.
Willis Jeffords 5:04 pm on April 22, 2010
Most health insurance has a very low deductable, that makes the comparison look worse. Plus, people regularly use health insurance, whereas most people don’t use their car insurance in a given year.
Add to that the fact that you’re competing with federal money: medicare and medicaid. Both guarantee payment and provide little incentive for doctors and hospitals to cut costs.
Remember what health care was like in the US in the 1960s? Then remember what happened when liberals/socialists got involved. Yes, higher costs and lower quality for the same services.
jeeper_peeper321 5:04 pm on April 22, 2010
Insurance cost are based on the number of claims and the pay out, for that policy region.
That’s why it cost more to insure the same car in some areas, than in other areas.
Some have a higher incident of claims.
health insurance works the same way.
And since Congress said insurance companies are not allowed to off policies across state lines.
That means the risk pool is smaller.
So the cost of health insurance, is based on the number and amount of the claims on that policy in that State.
Its not like the insurance companies are making more money in one area than another area.
Their profit margin stays the same across the states.
And it is a very low profit margin at that, averaging 2%
Thats what makes it so funny when some politicans try and blame insurance company profits for the high cost of health care.
If you took the profit away, most families would see about a $40 decrease in thier yearly insurance rates.