a reply to: ScepticScot
Thanks ScepticScot, for the reply. I used to think about insurance as the sharing of risk among a pool of the insured. If it ever truly was that, it
certainly is not that any longer.
I would argue that the government is most certainly a direct beneficiary of the fact that I am mandated by law to have insurance. Just because those
dollars don't trickle down into direct government services doesn't mean the government isn't getting its cut.
For any insurance type...
My premiums aren't just used for payouts to cover accidents.
My premiums are used to pay salaries/commissions at the insurance company. Which are taxed as income.
My premiums are also used to fund political campaigns in the form of donations from insurance company employees, PACs and direct contributions.
My premiums are also used to cover all the payouts that aren't completely legit (aren't true needs) in my opinion.
Had a hail storm a few years ago in the neighborhood, and there were more new roofs in the neighborhood that year than you would believe. One person
on the block had a tree limb that obviously damaged the integrity of the roof, yeah, insurance should cover a replacement for that. There was also an
abundance of people that got insurance payouts for new roofs when repairs would have sufficed. Do you think their insurance premiums are the only
ones that increased after that? Nope.
I was mentioning to my Dr at my last physical that in the future when I can afford it, there is a procedure that I would like to have done that I
thought would be completely elective and non-coverable. Thinking he could recommend someone I could trust to do the work. Instead, he made a note in
my chart of "symptoms", and voila, coverage approved. This procedure would surely improve my quality of life and my confidence, but my health... not
I refuse to use insurance for that. And maybe I am the dumb one, because God knows there aren't many people that would refuse that.
For health insurance in particular, because the IRS is the administrative arm of the mandate that all Americans be covered by health insurance, my
premiums are a tax in everything but name, and any penalties I would pay for not having insurance go right to the IRS straight away.
That is money the government tells me what to do with, that I can't spend on other things (including my own medical care or that of my family).
Those who now have coverage who didn't before are the direct beneficiaries of the fact that the only choices I have are to carry insurance, or to give
a penalty to the government.
It makes me ill to look at how much money the health insurance sector donated to the political campaigns in 2014... and who paid for that?
Health insurance consumers did, in the form of higher premiums. high deductibles, and policy benefit maximums. The hell of it is, my family has a
high deductible plan, which forces us to be "smart consumers" of healthcare... because I am under insurance contract, I pay doctors, drug companies
and labs 3 times more for contracted services than I would pay as a self-covered person, and it all comes out of my pocket because the insurance
doesn't cover anything until we meet our deductible.
Cap that with the fact that my 'employer funded' plan is not a 'benefit' but part of my 'compensation package' (which basically means "We would pay
you thousands more per year for your skills, but we are paying part of your insurance premiums instead"). My employer can deduct the "value" of the
benefit on their taxes at the end of the year (not the actual cost in premiums they pay, but the "value"... i.e. they can deduct more than they are
actually paying out), which is less money in government coffers also.
I don't see direct benefit from any of the money that changes hands here, except for the triple-cost I pay my Dr for the privilege of being part of
the insurance pool.
OK. rant concluded. Carry on