I am not an economist, but I feel that health insurance companies seem to fit into the “economic bubbles” of schemes and more that basically funnel money from one party to another. Clients pay for services and then basically get less than they bargained for in the long run. Premiums keep increasing, services keep decreasing, but corporate executives and shareholders keep reaping the financial rewards. It’s high time that government regulations were established to set standards on amounts collected versus amounts paid out for services. Too much money is redirected from care to profits. But guess what? No such regulations will ever happen because those profits are used to buy off congressional votes. While I am not totally sold on the idea of “Medicare for all,” I believe that if we can get rid of the for-profit insurance industry, better care can be had for a larger majority of our citizens.
Health insurance is a big scam, not unlike the economic bubbles of past