View Poll Results: What is the best way to run an insurance company?

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  • Charge the highest premiums possible. Pay out the least possible.

    13 59.09%
  • Charge the lowest premiums possible. Pay our the most possible.

    7 31.82%
  • Do what is best for the world even if it loses you money.

    2 9.09%
  • Close it down so that everyone will be screwed.

    0 0%
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Thread: What is the best way to run an insurance company?

  1. #71
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Boo Radley View Post
    Medicine is different than a factory. And the right answer isn't up there.
    A Health Insurance Company has never saved anybody's life. An insurance company has never sold medicine. I'm not sure why you are confused. Don't feel bad. Most people think these two industries are related.

    Doctors save lives. An insurance salesman has never saved a life.

  2. #72
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by winston53660 View Post
    Well straight off the bat accidents are never planned and the broken bones do need to be taken of there and then lest major problems in the future
    One of the games I saw being played with the elderly being hospitalized (when my Mom was sick)
    was listening to community leaders complain of doctors and insurance companies in cohoots about how many days elderly
    could stay in the hospital with Medicaid before shipping them over to a nursing home..
    We are fortunate to have a good assisted living home for Mom now .
    Physics is Phun

  3. #73
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    A Health Insurance Company has never saved anybody's life. An insurance company has never sold medicine. I'm not sure why you are confused. Don't feel bad. Most people think these two industries are related.

    Doctors save lives. An insurance salesman has never saved a life.
    If they provide the financing, as insurance does, and they deny payment, they are choosing between payment and care. Preexisting conditions fall under this category.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  4. #74
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Boo Radley View Post
    If they provide the financing, as insurance does, and they deny payment, they are choosing between payment and care. Preexisting conditions fall under this category.
    They are choosing between paying a claim that will make their company look good in the eyes of potential customers or paying a claim that is a complete loss.

    No medical procedure is involved in this decision. Write a check or don't write a check. This business would be better run by a robot that runs complex algorithms to make decisions.

    If somebody wants to help people pay for their medical expenses he/she should start a charity not a business.

  5. #75
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    They are choosing between paying a claim that will make their company look good in the eyes of potential customers or paying a claim that is a complete loss.

    No medical procedure is involved in this decision. Write a check or don't write a check. This business would be better run by a robot that runs complex algorithms to make decisions.

    If somebody wants to help people pay for their medical expenses he/she should start a charity not a business.
    And that has consequences for the patient which could mean life or death.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  6. #76
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Boo Radley View Post
    And that has consequences for the patient which could mean life or death.
    Yes. That's true. What's your point?

  7. #77
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    Yes. That's true. What's your point?
    Business shouldn't be making those decisions. You can't bankrupt your company, but it's a heartless thing to do. Not like a factory.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

  8. #78
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Boo Radley View Post
    Business shouldn't be making those decisions. You can't bankrupt your company, but it's a heartless thing to do. Not like a factory.
    Would you agree with me when I say that Health Insurance should be outlawed?

  9. #79
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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by vasuderatorrent View Post
    Would you agree with me when I say that Health Insurance should be outlawed?
    Not until you replace it with something like UHC.

    AUSTAN GOOLSBEE: I think the world vests too much power, certainly in the president, probably in Washington in general for its influence on the economy, because most all of the economy has nothing to do with the government.

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    Re: What is the best way to run an insurance company?

    Quote Originally Posted by Boo Radley View Post
    Not until you replace it with something like UHC.
    We didn't always have health insurance. Here is a pretty interesting article about the evolution of the health insurance industry.

    In Sickness and in Health: The History of Health Insurance

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