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What is the best way to run an insurance company?

What is the best way to run an insurance company?

  • Close it down so that everyone will be screwed.

    Votes: 0 0.0%

  • Total voters
    14
To not to in the first place.
 
In that case, I can't answer, since you didn't provide that choice. My answer would be:

Make the most profit that is ethically and morally responsible for the company, the country, and the insureds.

(I do believe that even in the making of profits, companies, like people, should be ethical and morally responsible and "do no harm." This is the concept behind not price gouging in the midst of a disaster.)

It sounds like you enjoy a combination of
Option 1 Charge the highest premiums possible. Pay out the least possible. or
Option 3 Do what is best for the world even if it loses you money.

I'm sorry that I didn't offer an hybrid option for you to chose.

Scenario One
Just imagine that you bought an insurance policy and paid $350 every month for 60 years which would be $252,000 in premiums. Then you got extremely sick and the only way to save your life would be to have a $7,266,414.09 surgery. Option 3 might be your choice.

Scenario Two
Just imagine that you invested $252,000 into the best health insurance company. You might want to chose Option 1 in that particular scenario.

The only problem is that most investors fit into the second scenario. Therefore Option 1 is the correct answer to this test. Use your brain and a calculator for a few minutes. You will probably come up with Option 1. That is what the majority of the posters are answering.

It probably isn't fair that I am giving away the correct answer but I think there will still be people that choose a moronic answer but most people aren't morons. That is pretty encouraging.
 
No Option 4 means you had an insurance company, I'm saying it is best not to have one in the first place.

But you do have one and you are choosing the best way to run it. I don't know what happened. Maybe you inherited it from your rich uncle or something.
 
Demonstrates the problem with medicine for profit.

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
 
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

I don't see your answer in the poll. If this poll makes you uncomfortable try my other poll.

http://www.debatepolitics.com/polls/176637-best-way-run-ceramic-doll-company.html

Ceramic Dolls are a lot less controversial but luckily I can take your answer on the ceramic doll poll and apply the same logic to this poll.
 
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
People are most decent, but too often it boils down to need care versus profit. The choice being made at all is ripe with pit falls and opportunity for bad things to happen.
 
People are most decent, but too often it boils down to need care versus profit. The choice being made at all is ripe with pit falls and opportunity for bad things to happen.

Did you answer this poll? If not, you might be more comfortable answering my other poll regarding a Ceramic Doll Company.
 
Did you answer this poll? If not, you might be more comfortable answering my other poll regarding a Ceramic Doll Company.

No, because the true answer isn't up there. And no, medicine us different than any factory.
 
No, because the true answer isn't up there. And no, medicine us different than any factory.

Very funny. :funny Some reason I don't think that you are joking. :Oopsie I shouldn't have laughed.
 
Insurance companies change insurance policies for folks so they have a problem with ACA..
Then their GOP brothers call the POTUS a liar .
 
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too often it boils down to need care versus profit.

I'm talking about a Health Insurance Company. I'm not talking about hospitals.

I would vote option 1 for a Health Insurance Company.

I would vote option 3 for a Hospital.

People would be willing to donate large sums of money to people that save lives. People will not donate money to scum bag salesmen.
 
Very funny. :funny Some reason I don't think that you are joking. :Oopsie I shouldn't have laughed.

Medicine is different than a factory. And the right answer isn't up there.
 
I'm talking about a Health Insurance Company. I'm not talking about hospitals.

I would vote option 1 for a Health Insurance Company.

I would vote option 3 for a Hospital.

People would be willing to donate large sums of money to people that save lives. People will not donate money to scum bag salesmen.

Same difference. They have to decide between care and profit. It's not best made as a business decision.
 
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.
 
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 .
 
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.
 
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.
 
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.
 
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