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View Diary: Bill Moyers wants you to read this (259 comments)

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  •  Yes, (10+ / 0-)

    You still can't make money by insuring sick people.

    and you never could.  Making money on insurance is extremely simple.  You bring in more in premiums than you pay out in claims.  A huge number of healthy insureds is required in order to offset losses to unhealthy insureds.  The only way you can get the necessary imbalance is to deny coverage to poor risks.

    That's what insurance is: risk management.

    So, when you are required to insure everyone, there is no longer any management, only risk.  That doesn't work, which leads to a question.

    What the hell are insurance companies needed for anyway?  In a universal coverage scenario they add no value to healthcare whatsoever.  Now, instead of being casino masters, they are merely leeches (and not the medicinal kind).

    Providing universal healthcare via alleged insurance companies is irrational, counterproductive, and well, so buggywhip.

    One of two things will happen.  Either the whole thing will be repealed and we'll go back to the corporate death squads (unlikely) or the insurance scam will become so expensive it will collapse under its own weight and people will finally realize single payer is the only rational way to deliver healthcare in the 21st century.


    "A man of true science uses but few hard words, and those only when none other will answer his purpose..." - Melville

    by ZedMont on Mon Aug 30, 2010 at 03:27:50 PM PDT

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