Quote:
Originally Posted by BigThief
Undercoverbrother had an almost unsaitable bloodblust when Russia invaded Ukraine, at an uncomfortable level and suddenly he's mister peace when it comes to a CEO whose decisions have benefited only his shareholders while leaving untold others to suffer and die.
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The problem isn't the insurance company or it's ceo. It's the system of "for profit" insurance that results in higher admin costs and profits at all. In a non profit system, you can allocate maybe 0.05 per dollar to additional care rather than to profits.
Insurance companies mostly grow profits for shareholders by growing revenues and finding administrative efficiency. You grow revenues by getting more customers which is really just providing the same coverage as a competitor at a lower price. You find administrative efficiencies, but over time this actually accrues as lower premiums to customers. So there's nothing inherently bad with trying to grow these profits within a for-profit model.
Trying to grow profits by denying claims is bad, but fruitless. The higher profits would be competed away into lower premiums. And then customers who want more coverage would pick a higher premium option, which basically leaves everyone back where they started. The denying of legit claims would get you sued and you'd lose many customers to more upstanding insurance companies that honor their coverage.
The reason a lot of claims are denied is because people lack coverage or because they want experimental treatments. If people are constantly paid out in areas where they lack coverage out of benevolence, the entire model of insurance breaks. Economists have won nobel prizes explaining this.
If people experimental treatments are approved, it reduces the money available for tried and true treatments for other policy holders. That requires either higher premiums (to cover the experimental treatments) or less coverage for someone else. Ie a lot of the delay, deny, depose - is just healthcare rationing under a different model. And again, there's nothing inherently wrong with company's doing that in a for profit model.
The majority gripes people have is with the for-profit model, not with companies acting within the for-profit framework. Don't hate the playa, hate the game.
And if you want to change the system, then do that. Don't kill people doing their best within the existing system.