Sunday, July 30, 2017

Business of risk

There is so much risk in life where people can pool resources with businesses which will pay out when needed, up to a point, if needed. And such businesses are called insurance companies.

So strangers will take care of your needs, because you've given them money along with enough other people, if you have a problem covered under a contract, which limits liability of the strangers.

And have posted about money and limited social trust before.

Business is about limiting liability to others, while community at its best will save you with its every breath, like if your nation goes to war. The United States as a community has fought. Like with other allied nations as a community of nations more than once to save our world, and community at the highest levels has no limits. And yeah, even family should not, though reality is that is not always true.

As a community the nation has a duty to its citizens, while to be a business an insurance company should only pay to the limits of a contract. But what if a person is sick and still needs care?

If your insurance runs out? Then your community, if you have it, should still care for you. And when it comes to health insurance, your nation should bear the responsibility, and that is probably best paid for at the national level, but could also be at the state level in the US working together with the federal level.

If an insurance company keeps paying past the contractual limits or takes on a person already sick?

Then that insurance company is NOT acting as a business.

Here's a tweet I made recently talking a subject have discussed here before:

And the tweet links back to a prior tweet where I gave a rather simple healthcare plan which could fit into 140 characters. And will post the text here:

My healthcare plan: Preventive Care--everybody, Core Care--insurables, Expected Care--not easily insured, Elder Care--quality of life at end

Where explain all in a post, from 2009: My Healthcare Plan

That insurance companies can administer insurance even if they are NOT paying from the pool paid into to handle risk is not a wild idea.

Wealthy people will have an insurance company, when they will pay if, for instance, in a car accident. The insurance company has more expertise than a wealthy person who presumably rarely gets in an accident, with handling accidents, and that expertise is worth a LOT.

There is no reason for a person to stop receiving care if they reach caps in their health insurance!!!

And politicians know it.

The government can simply pick up the tab from that point on, while the insurance company continues to handle administration.

It's a simple idea folks. Harder to do in the past because administration was very expensive too, until computers made it very manageable.

So why would such a simple idea, which I put forward in 2009, not be part of the national discussion?

I can speculate. More than likely is about TAXES and POWER.

For instance, single payer healthcare would give vastly more power to the US Government, and some seem to desire it. While others seem intent on cutting their taxes by any means possible, and somehow have figured out a way to do so with healthcare a mess.

Some may wonder about the details, like what if people refuse to pay for insurance and just wait till they are sick, knowing is guaranteed? Well I explained one way to handle with a post I called health insurance responsibility back in 2012.

But limits of liability to be a business are just a reality. Without limiting liability, insurance companies can't act as true businesses, but with it they can focus on their strengths, without people caring as they still GET care.

Do you care with your health insurance, who pays if you need care, like if you're in the hospital as long as payment is guaranteed?

So if it switches from your insurance company paying direct, to the government paying you STILL get care. And don't even have to notice as still interact with same insurance company.

Why would you? Main thing for you is to get medical treatment and get well, not worry about who pays.

Why would anyone think you would?

James Harris
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