How was that compensation structured? Was it cash or stock? And how much money would they spend if they didn’t act paranoid about false claims? Would that dissolve the 80 billion because it’s possible.
Aside from that, did you notice this is a 2 month old post?
I only posted what I did because your post read like you expected insurance to run by paying out 100% of what they get in. The thread started with general insurance but many zeroed in on health insurance. Yes there are problems, obviously, but certain things like denying claims comes about from many people trying to scam payments and the insurers tightening security too much without enough oversight.
Everybody seems to think there’s huge payments going to investors and C level executives but that comes from market confidence. So the stock price rises and those bonuses of stock options appreciate without the company paying a dime.
Nobody works for free. In order to be a large effective and not out of business business you need to have a profit to cover overhead like staff.
Technically insurance only works if everybody pays in. Wouldn’t work as a concept if every tom dick and harry could pay them $100 then a week later need $100,000. They’d basically be out of business right quick with nothing to provide for anyone. Maybe as some believe it should just be provided through taxes, but it’s certainly not a scam.
Welcome to Texas frontage roads.
The point of my stance wasn’t to say the world is perfect and nothing should change. Only to try and point out the potential reasons for how things are beyond “they’re evil”.