Quote:
Originally Posted by kane
4. Insurance companies stand to gain by having the cost of healthcare be very high. This allows them to scare people into making certain they have health insurance just in case something happens. If prices were low and reasonable, many people would just pay out of pocket and have no need for insurance.
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Also insurance companies work together with hospitals to jack up the price so that you actually get much less "coverage" than you pay for. For example, go to the doctor for a straightforward procedure, i.e. sutures. If you have insurance that covers 80% and your bill is, say, $1,000 then you pay $200 and insurance "pays" the rest. Go in with no insurance and pay cash up front and you'll often find your bill is closer to the $200. I am pretty sure on the back end the insurance company is getting a huge volume discount and is not paying the full remainder of the balance, in many cases I believe they pay much, much less.