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1) Health care pays for preventatives to help keep future Health Care costs down. Auto does not.
2) Health Care is not as limited to the "value of an object" like Auto Insurance is. Your policy is worth the value of your car and the set limits on Liability.
3) Depending on if you have group insurance your policy does not go up just because you use it. Sure it will most likely go up but that goes up for everyone.
What is it limited to? Or, is it supposed to be unlimited? But then, I see no effort towards the latter.
ok, that's a thoughtful, realistic, relevant answer. I accept those differences. I still don't think that the two businesses are MASSIVELY different, but yea, I acknowledge those different details.
The business model is like any other for profit company. Sell product, keep overhead low and try to be profitable. The problem is that it is called Health Insurance and that is wrong.
People should have the option of either having 1) no coverage 2) preventative/small claim (Dr. Visit, sick, allergies etc.) coverage 3) Health insurance (worst case scenario) or 4) a combination of 2 and 3.
If you get just preventative then you are open for trouble if something major happens. If you just get Health Insurance (disaster coverage) then you pay a higher premium and if you choose the combination then the preventative should help drop the price of the "disaster" portion because doing preventative "maintenance" helps to prevent some future disasters.
Either come up with a Universal pricing system for all providers or let them charge as much as they want and the Healthcare companies can choose whether or not they want to do business with them. If the provider charges too much they get no business. If they price it right then they get more business and get paid the correct amount that they bill. If the customer wants to go to a more expensive "out of network" doctor then they pay the balance over what their coverage provides.
There is too much greed in Healthcare and people's lives should win out over profits but unfortunately they do not. The goal of all claims adjusters is to find a way to deny the claim. Not help people but deny the claim.
What is it limited to? Or, is it supposed to be unlimited? But then, I see no effort towards the latter.
Some policies have a lifetime limit and some don't (total dollar). Some also have per claim limits as well. It depends on what coverage you have whether personal or individual.
Before the health care law, many health plans set an annual limit — a dollar limit on their yearly spending for your covered benefits. Many plans also set a lifetime limit — a dollar limit on what they would spend for your covered benefits during the entire time you were enrolled in that plan. You were required to pay the cost of all care exceeding those limits.
Under the law, lifetime limits on most benefits are prohibited in any health plan or insurance policy issued or renewed on or after September 23, 2010.
The law restricts and phases out the annual dollar limits that all job-related plans, and individual health insurance plans issued after March 23, 2010, can put on most covered health benefits. Specifically, the law says that none of these plans can set an annual dollar limit lower than:
$750,000: for a plan year or policy year starting on or after September 23, 2010 but before September 23, 2011.
$1.25 million: for a plan year or policy year starting on or after September 23, 2011 but before September 23, 2012.
$2 million: for a plan year or policy year starting on or after September 23, 2012 but before January 1, 2014.
No annual dollar limits are allowed on most covered benefits beginning January 1, 2014.
Some policies have a lifetime limit and some don't (total dollar). Some also have per claim limits as well. It depends on what coverage you have whether personal or individual.
So, in those cases, health insurance is like auto insurance, with price limits defined?
Right which is why I stated "Not as limited" because the policy and company defines the limits based on everybody not just the specific vehicle in question and whatever liability someone chooses. The other point is that not all policies are limited so there is a variance in coverages depending on the carrier, which policy you purchase, your group coverage etc. 1 similarity vs multiple differences does not make it an apples and apples conversation.
With Auto insurance it's 1) the value of the car at the time of the accident and 2) whatever liability coverages you have. That is all your policy is worth.
Health Coverage is worth preventative maintenance, pharma, disaster etc. The reason why it should not be called Insurance is because it's not an insurance. It's health care coverage. You purchase a plan that subsidizes your Dr. visits and in case of a major medical emergency will provide a similar subsidy or coverage.
actually, it's out of check.
and so what? It's the price you pay to live in a civilized, modern society. You don't like taxes? Move to Zimbabwe, or find some land in a rain forest you can call home.
Can you point to where I moaned about paying taxes? Do you make it up as you go along?
Additional taxes removed from your check for Univ Healthcare would indeed be money that USED to go into your pocket...bank account, what have you.
Right which is why I stated "Not as limited" because the policy and company defines the limits based on everybody not just the specific vehicle in question and whatever liability someone chooses. The other point is that not all policies are limited so there is a variance in coverages depending on the carrier, which policy you purchase, your group coverage etc. 1 similarity vs multiple differences does not make it an apples and apples conversation.
With Auto insurance it's 1) the value of the car at the time of the accident and 2) whatever liability coverages you have. That is all your policy is worth.
Health Coverage is worth preventative maintenance, pharma, disaster etc. The reason why it should not be called Insurance is because it's not an insurance. It's health care coverage. You purchase a plan that subsidizes your Dr. visits and in case of a major medical emergency will provide a similar subsidy or coverage.
How much of these limitations used on auto-insurance do you believe is tied directly to profitability and a collusion between government and insurance providers? A lot of that limit is subjective. But you can also apply a price tag because you can replace an item with another. You can't do that with health care.
However, that doesn't make health care insurance any less comparable to auto insurance.
The caps on money doesn't mean there is a massive difference... I don't understand why that's your metric of choice.
What you said about preventative care, yea I can see that, I wouldn't be shocked if you could find a company that covers oil changes and tune-ups and the like, but I haven't heard of it yet.
Besides that though, my original point, they are both insurers, they both take your money and hopefully they pay out less than you pay in... If you get too expensive they raise your money or drop you.
business model isn't "massively different," just like my food example, I'm sure there's fancy toppings at the $12 burger place and they serve beer, but McDonalds still gets to call itself a restaurant that serves burgers, even if the details and price are different.
Yes, the caps do make a difference, as you noted in a subsequent post.
Health insurance is based on prevention, auto is not. Thats where the cost structure is different, and its why they vary so differently as insurance coverage.
The business model is massively different. You can break it down to the most basics, in which you can say selling tomatos are like selling Iphones, but those are different products, just like health insurance and automobile insurance is a different product.
Life insurance, for instance, is insurance, but its not like medical or auto.
Health insurance is based on prevention, auto is not. Thats where the cost structure is different, and its why they vary so differently as insurance coverage.
How is health insurance based on prevention? Any insurance is based on coverage against risk.
How is health insurance based on prevention? Any insurance is based on coverage against risk.
I think the original healthcare insurances, back when (idk), did that.
But now their cost structure is based around prevention. Its why my health insurance company provides me with free council on my health, and ways to improve it, and encourages me to get a check up once a quarter.
Many companies will drop you if you don't, or call it a pre-existing condition. Not sure if mine will or not, but I get checkups anyway.
I get a discount on my policy because I do the preventative checkups. So their cost structure is based on preventing an illness, or preventing a death. Auto insurance covers the loss, not the prevention.
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