The Pyro wrote on Nov 10, 2016, 13:33:
The main problem IMO is using a bunch of private insurers. Profit is always a motive.
I hear that a lot, but the evidence doesn't seem to support it. Private health insurance companies in the US have been performing terribly. They're pulling out of entire states because they're losing money. Somebody's making a profit here, but I'm not convinced it's the insurance guys.
EDIT: A quick back-of-the-envelope calculation based on public data makes me think that UHC (the largest insurer in the US) is making less than 5% profit on the premiums they charge. Feel free to fact check me, as I'm not confident about this number.
I should also note that in some places (like Texas) insurers are required by law to refund any profits above 10%. There's a cap on how greedy they can be.
Why let them make a profit at all? WHat's the purpose? Make them all be nonprofits.
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