Insurance companies are the MATH you dumb@ss

Posted on: October 25, 2016 at 16:03:39 CT

Installing systems has absolutely nothing to do with knowing how the systems works.

I've been working in Banking and Insurance for 35yrs, even some government projects so I can tell you the crazy differences between that and business. All in PROJECT DEVELOPMENT.

Every company is out to make a profit.
For Insurance, they make money on correctly calculating the RISKS against the costs.

The best risk is healthy people. They do not want the cancer patient or the AIDs patient, who will cost them dearly.

Now, insurance companies do NOT know who is healthy and who is NOT. That is what Pre-existing conditions were there for. I can even remember the fields and algorithm used at General American to calculate the fvcking rates.

The next closest means of identifying healthy people is age. But even before Obamacare that was used as an additional factor at accessing risk. The simple fact is, even if you're healthy, as you age, your risk of losing good health goes up.

I know this as a small business owner. Every 5th yr of mine and 5th yr of my wife's birthday, they would always raise my rates.

Obamacare tried to use the leverage of healthy people, in terms of young people who were now required to have healthcare, but instead most chose to pay the tax instead of getting coverage.

One option left for Obamacare is to raise the tax to a level that would convince most young people to get insurance, but I seriously doubt that will happen.

Edited by Webbster at 16:14:05 on 10/25/16