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A world without insurance – Part 1 – The house always wins.

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#1
Thoughts?

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A world without insurance – Part 1 – The house always wins.
April 22, 2010

So what exactly constitutes gambling. One way to explain it is placing a bet on a future event. It is the same thing you do when you purchase insurance. Your placing your bet on a future event that may or may not happen. In this case the house is the insurance company. Who has the statistics to make sure they place the odds in their favour. Without the house advantage the insurance company could not stay in business let alone be able pay all it’s employees. And like casinos, insurance companies have huge buildings with loads of employees.

Most people can recognize that gambling is not a wise use of there money. Just based on the odds alone it would figure that it’s not a responsible use of money. It’s a way of trying to getting ahead without providing any real substance. Yes you can come out ahead but the house always has the better odds. This is what allows the house to stay in business. And if your winning to much you might be monitored carefully and seen as a possible cheat.

The biggest threat to the casinos and insurance companies are the big winners. So be careful, if your too savvy or you try to tilt the rules in your favour you are going to be dealt with suspicion if not outright resistance. If you get a big pay-off you must realize your threatening important profits of the house. You will likely be meat by the casino security guards or insurance lawyers. There to protect you of course.

http://truthsource.wordpress.com/20...t-insurance-–-part-1-–-the-house-always-wins/
 
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dirt to oil

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#2
I have been wondering lately that if there was no insurance how much lower would heathcare cost, its easy to raise prices when there is this huge pot to take from . anyway I was just wondering and have'nt really fleshed it out much.
 
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#3
There is probably a better chance that I will get ill than crash my car or see my home burnt down.

Out of all the insurances should I get all three or just two of three?
 
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#4
There is probably a better chance that I will get ill than crash my car or see my home burnt down.

Out of all the insurances should I get all three or just two of three?
It's your BET. Maybe you could just try to avoid crashing, getting ill or the burning your house down?
 
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#5
I have been wondering lately that if there was no insurance how much lower would heathcare cost, its easy to raise prices when there is this huge pot to take from . anyway I was just wondering and have'nt really fleshed it out much.
The big connection I can see between insurance and health care is the higher the cost the more money there is to be made by both. And our healthcare is crazy expensive because of the collusion between government and the industry.
 
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#6
It's your BET. Maybe you could just try to avoid crashing, getting ill or the burning your house down?
The only one you can go without is health insurance. The others I don't think they let you. I have no health insurance. What is wrong with America?I should be able to have health insurance at a decent price.
 
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#7
The only one you can go without is health insurance. The others I don't think they let you. I have no health insurance. What is wrong with America?I should be able to have health insurance at a decent price.
I think you miss the point of the article. I'm not really sure why you would want health insurance. You must be a gambling man. :) Or like most people, just not willing to handle their affairs themselves. We want the Ward to take care of us if anything goes wrong.

You have to have house insurance because you have a mortgage. Car insurance is a different animal depending on the state your in. But you always have the 1 amendment to the constitution if your religious.
 

Cassius

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#8
There is probably a better chance that I will get ill than crash my car or see my home burnt down.

Out of all the insurances should I get all three or just two of three?
You take insurance when it would be catastrophic or especially inconvenient to pay out of pocket if the event were to happen. If you have a mortgage you are required to have home insurance because the bank has an interest in your property and they know you wouldn't be good for the 100k+ if the house burned down, nobody wants to take a 100k hit so insurance is the standard.

Frankly with all the poor people (not to mention the uninsured if you have ever had a collision with them you know they are uninsured because they can't afford insurance let alone the actual damages from a collision) mandatory car insurance isn't a terrible idea. New Hampshire allows you to self-insure if you have the funds which is great and a superior system (because of the increased liberty) but frankly there are a LOT of idiots out there, I wish they made the penalties for driving uninsured (although self-insurance should be an alternative) much higher. I mean you are risking bodily injury here, even death. The stakes are high.

Should you have health insurance? Well again it's a risk-cost-benefit analysis. If you have a family you probably want to have health insurance (and life insurance to) to replace your income so your family isn't hit by financial stress or even ruin at the same time that they are dealing with the pain of your injury or even death.
However if you are young single and healthy, going with no health insurance (or maybe just catastrophic) makes a lot of sense. You can get a catastrophic policy pretty dang cheap (meaning if you have a $200k heart attack it's covered but anything under 5k or 10k or whatever you're on your own).

Health insurance that pays for routine stuff, like dental vision checkups prescriptions etc in rare situations makes sense but let's be honest it's not health insurance. It's prepaid healthcare. A big reason why it makes sense is because the system is skewed to where the costs can be many times higher without "insurance" than with it.
 

madhu

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#10
Health care insurance companies employ a bunch of lawyers and they set a price to be paid to the hospital, doctor, lab etc. Now when u dont have insurance and the ambulance takes u to some hospital then they charge u till u are bankrupt. Tylenol given in the hospital costs 10 $ a pill.

When the whole society is based on gamblers, u will have a tough time living outside the rules of the matrix.
 
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#11
The f^&^ers will sell life insurance because they know me stupid and I won't die.
The f^&^ers will sell home insurance because they know me stupid and I's house won't collapse or burn down.
The f^&^ers will sell car insurance because they know me stupid and I won't crash the car unless I'm under 25.
The f^&^ers won't sell medical insurance below $300 a month because they know me stupid and are betting I will get sick 2 to 3 times a year.
 

sholomar

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#12
to me, health insurance is a must, particularly with a family, because... taking care of things 'yourself' is expensive when hospitals overcharge people to compensate for the money they aren't getting for those who can't afford or don't pay... so you are paying, in part, for someone else's health care no matter what.

Plus, insurance companies make deals to lower the overall cost for themselves... often the price they charge you versus the price they charge an insurance company is a large difference. Never say never.. bad things can happen to the most unsuspecting at some point or another.
 

Kruger_Man

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This reminds me of my economics courses in college. The two big problems with insurance (aside from usury), are "adverse selection" and "moral hazard." Adverse selection means that people who are more likely to get in car crashes or burn down their houses, or get sick, etc. are more likely to buy insurance. This forces the insurers to reduce coverage and increase rates to compensate. Moral hazard means that normal people, who are otherwise safe people, might start to take on more risk after buying insurance because they now have a "safety net." This means that the presence of insurance actually makes it MORE likely for people to get in car accidents, burn down their houses, or get sick.

Either way, we'd be better off without them. Without health insurance, I'm sure we'd all maintain more healthy lifestyles, and the cost of care would be MUCH less in the event of sickness. Without car insurance, more people would be defensive drivers. Fewer accidents would mean fewer injuries and less money wasted on repairs, new cars, car rentals, and lawyers. Without home insurance, well... I'm not sure how much would change there.

Without life insurance, we'd save a lot more money.