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re: Out of the Box Healthcare Ideas
Posted on 3/28/17 at 1:15 pm to Ingloriousbastard
Posted on 3/28/17 at 1:15 pm to Ingloriousbastard
quote:
That's pretty much the definition of insurance.
Not even close.
Insurance is a risk-hedging system. You pay small amounts against the relative risk of an event occurring with the promise that if the event occurs, it will be financially covered by the pool.
Honestly, insurance is one of the best economic creations since the industrial revolution. It literally saves millions and millions of people from financial ruin every week.
1
Posted on 3/28/17 at 1:21 pm to Antonio Moss
Not even close? His post was insinuating that there was something wrong because most people pay into something more than they use, but very few benefit from large payments...which is essentially how insurance works. Insurance works on the law or large numbers. Many pay into something, but few reap benefits.
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