California

What else should we expect when insurance companies are publicly owned/traded commodities?

It was striking to me that the United HealthCare executive who was murdered in NYC was on his way to talk to investors about his company’s profit expectations. He wasn’t going to talk with pharmaceutical executives about drug prices or doctors about billing and efficiencies. He was going to address profits! (In no way do I condone his murder.)

State Farm issued policies based on their best guesses but they were wrong. How is this business to survive if they don’t have the money to pay claims?

For-profit insurance is a rip off and produces terrible results. It’s as bad as Vegas in that insurance is a bet: the customer bets they’ll lose and need coverage while the insurer collects premiums betting they’ll won’t have to pay out. What a scam.

A recent chart I saw listed the top 25 developed countries and how many people in each country had to file for bankruptcy last year due to medical bills. In 24 nations, there were zero but in the U.S., there were over 675,000!

The U.S. is not a great country in the way its people are treated. It has always been thus.