"nom=de=plume" wrote in message
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wrote in message
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On Sat, 10 Apr 2010 18:09:39 -0700, "nom=de=plume"
wrote:

What insurance does is create a target rich environment for lawyers.
Between the two of them you are right, it is a huge drag on the
economy. We would actually be better off without any insurance at all
but then people would have to plan for their own futures and their own
problems,



It's not all about poor planning. Few people can afford to deal with
catastrophic illnesses. Even millionaires have gone broke.

Most people want a lot more than catastrophic coverage. If that was
all we wanted it would be pretty cheap. My $3000 deductible is "free"
from IBM (costs them less than $2k a year) but the PPO would cost me
$12,000 a year plus their $2k and still be a $20 co pay.
The poor planning part is people who can't save up a few hundred a
year for routine checkups and minor care unless they have the
insurance company "save" it for them (with a 17% handling charge).
People are not talking about insurance here, they are talking about a
medical bookie that collects the "vig" on every procedure and
treatment.
The classic is the drug plan. You know you are going to buy the drug,
the insurance company knows you are going to buy the drug. How in the
hell can it end up being cheaper letting them broker the transaction?


They want a lot more than catastrophic coverage because they don't want a
small problem to turn into a big problem.


--
Nom=de=Plume


Why not just catastropic coverage only? The savings on insurance cost would
pay for a bunch of office visits. But they would rather pay lots more for
insurance and not have to budget for a doctors checkup?