Quote:
Originally Posted by Rekna
And that is the problem. It should go back to the people.
The fundamental problem is that the free market and health care do not work well together. When the opportunity cost is death there is no limit to what health care providers can charge and thus they can extort people for all that they own and in a true free market fashion that is exactly what they do.
---------- Post added at 10:24 PM ---------- Previous post was at 10:21 PM ----------
A smart insurance company would keep a large savings pool for this. The refund could also occur a year behind if it were needed but I'm not convinced it is needed. Alternatively the refund could also be applied to future premiums. Right now we need to limit how much money the insurance companies fleece from sick people.
How come the percent of premiums spent on actual health care has decreased substantially over the last 10 years?
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Like every other business in America they want to make profits. You can not force a company to make mandatory refunds. The only way to get insurance companies to lower premiums is if a government plan that actually works forces insurance companies to in order to compete. The government can't tell the industry what to charge or when to refund, or what to do with their profits.