Quote:
Originally Posted by GGG
But this claim denial doesn’t really increase profit on its own, the savings appear to be passed to the customers. it lowers premiums to attract customers to increase revenue to increase profit.
The price sensitive consumer and there being little apparent difference at the time of purchase incentivizes a low premium low service model.
So they do follow the needs of their customer, the lowest possible premium at time of purchase.
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No, the needs of the customer are to be able to pay for health care when it is required, regardless of whether or not you have all the money in your bank account at that time. The model of insurance is about banking money away for future use, but guaranteeing you can pay for care in the event you haven't banked every dollar for that health care service. If you can't use the money you bank away, what service is being provided other than just taking your money?
To paraphrase Chris Rock: "I give a company some money in case #### happens. Now if #### don't happen, shouldn't I get my money back?"