Do you think medical insurance is a money-making scheme?

The entire US health system is for profit. That is the number one problem with this world. Greed. Money is the world's worst invention. It does nothing but hold us back from being our best selves.

But because of money, everyone who works as a nurse, a doctor, a surgeon, a secretary, lab technicians, all want their share fair of this huge pile of money.

And that's why healthcare in this world sucks. At the end of the day, they only care about money, not you. Oh sure, they'll do what they have to do, to take care of you, but you better pay that $2137.44 bill.

I have read from those in the industry, and for that matter at the social security disability office, it is most common to deny any claim three times. Most will give up. Problem solved.
That we have some of the best medical technology in the world, and yet we have some of the worst healthcare in the world, is a sad statement about how money trumps everything. If you can’t get rich doing it, it shouldn’t exist

Any kind of insurance is a money making scheme.

From what I can see, the entire insurance scheme in the US is a scam. They offer you medical coverage while working, but if you get too sick to work it goes away? That's like selling umbrellas when it's dry and confiscating them when the rain starts. It's modern day slavery

Each year federal agencies receive funding from Congress, known as budgetary resources . In FY 2023, the Department of Defense (DOD) had $2.04 Trillion distributed among its 6 sub-components.

So in the USA it is acceptable for the DOD to be financed to the tune of trillions from the public purse, and nobody thinks of this as socialism or communism. But if the idea of a Universal Healthcare system is proposed, financed by the public purse, then that somehow becomes unacceptable as it smacks of socialism or communism?

Sure. By design, US medical insurance sets prices such that the company can return a profit to stockholders. That's capitalism!!

Sure. It’s not philanthropic , they just wanna make profits.

What isn't a money making scheme? Especially these days?

I doubt any other country on Earth would put up with it and call it healthcare

I don't know about American medical insurance specifically, but all insurance companies are in it for the money and are far keener at taking premiums than settling claims - even allowing for their rightly having to ensure claims are fair and legitimate.

By telephone call, I've just had my home insurance renewal reduced from the wanted a near-£100 increase from last year with no intervening changes or claims - to a more sensible figure.

(I don't pay medical insurance as such because I am an NHS not private-care patient; but when working my National Insurance contributions from my Gross Pay helped pay for everyone's health and welfare, including the State Pensions of those already retired)

"Insuranceology"... I like that term!

For-profit insurance companies with stockholders to appease certainly contribute to the problems. But there is a fundamental flaw in how doctors and hospitals are paid as well, whether they are for-profit or non-profit: the traditional fee-for-service piece rate approach, which leads to unnecessary services being added on and $15 band-aids from mark-ups. Part of Obamacare, if it wee allowed to fully roll out, was to gradually shift to payment based on type of medical procedures required with quantified serv ice and quality standards factored in.

Layer on top of this the lack of universal coverage but mandated treatment of everyone regardless of their ability to pay. This is a triple whammy in that (1) hospitals in particular, but medical personnel as well, factor in the need to cover the expenses for these people who show up in the ER, (2) the ER is one of the most expensive venues to provide care, and (3) many of these ER visits, or treatments at all, could have been avoided with cheap preventive health care services . But the uninsured put off such visits until they are so sick they need the ER.

All insurance is money-making.
Like gambling, the odds always favour the house.
Except the insurance accountants have the advantage of mass statistics to weight the chances in their favour. The game is rigged; the majority of punters are more likely to lose than win.
Otherwise, the industry wouldn't survive and couldn't list its companies on stock exchanges.

The smarter bet is to live a healthy lifestyle,
and if possible invest savings in something that beats inflation,
to save for a rainy day.

Universal healthcare is communism. Apparently.

Insurance is a business intended to make money. All business try to maximize profit.

My experience is that USA insurance is mostly a scam. Things improved a lot when they ACA got rid of the pre existing condition rip off. Huge deductables, denied care, balance billing, it seems to me that, basically, insurance is in the business of not paying to the greatest extent they can get away with and providing nothing that benefits actual medical care.

Of course it is. At all levels. Pharma production. Just look at that stunt with the price of insulin a few years ago). To price gouging medical equipment and hospital stays.. Then malpractice insurance to raise costs, and finally health insurance itself. The US system feeds directly off the ill and infirm.. Bl**dy Vultures..😷

It is, it’s about making money. Not preserving life or even health.

The USA is Corporate America. It is about profits. It will always be about profits.
The US has the highest costs for healthcare than any industrialized nation.
Highest drug costs.

Big Pharma, just like Big Oil, own the politicians.
Until we have non-profit healthcare, nothing will change.

ya be late on a payment they are ready to drop you.put in a claim and get ready for a fight.they are as bad as the mob

Yes. It's how capitalism works. You sell goods or services for more than they cost you to provide. That's the system we all openly accept and support.

Yep, a huge money-making racket. Something like $31 billion net profit in 2020, but it declined during Covid, then regained almost all of that in late 2022/early 2023.

how the hell do you think they get the money to build all those high rise office buildings.they are the worst crooks in the world

Unfortunately the big insurance companies, and pharmaceutical companies have all the power.

From what i hear, they're careful to keep the politicians on side. So i wouldn't expect much change.

of course it is... we're paying out enough to make doctors, hospitals, and ins co.s rich as hell, but getting less and less care for our dollar. there are big time lobbyist making sure health care stays a scheme in the U.S.

It is a poorly regulated and inefficient means of providing healthcare. If companies seek the privilege of profitting from peoples' ill health, they should be compelled to offer universal coverage. Any idiot can turn a profit our of insuring essentially fit and healthy people.

It absolutely is.

I do.. but then I think about my family member in Canada waiting weeks for their MRI then more weeks for his results to see if the cancer treatments are working or if it’s getting worse. 🙁

Buy your own insurance that way you don't get scammed by the government

Of course it is. That's why they are in business.

Obviously when it's for profit.

Yes, and Obamacare made it worse.