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View Diary: Republican political leaders want to prevent you from using birth control (160 comments)

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  •  Paying through insurance for an everyday (1+ / 0-)
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    Prachar

    item is very inefficient and drives up the cost of healthcare.  Insurance companies like this, but we should not.

    The cost of buying a low cost item through insurance adds about 15-25% to the non-insurance cost.  This creates administrative overhead for the store, insurance company and means of payment for the insurance itself which drives up the price of insurance faster than the value of the benefit.

    For example when cold medicines become available without prescription and not covered by insurance the cost plummets.  

    Having the monthly insurance price go up by $50/mo to cover an item that would cost $35/mo for those who want it makes no sense.  When coverage expands, insurance companies just add the cost plus the additional cost to the store plus their administrative overhead and profit.

    The essence of insurance is the cost of insurance is always greater than the expected benefit.  The purpose of insurance is to to protect people from unaffordable infrequent expenses.

    The most important way to protect the environment is not to have more than one child.

    by nextstep on Fri Oct 07, 2011 at 08:12:49 PM PDT

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