LifeStyle / Tuesday, February 20th, 2018

Question by :

Should health insurance companies be granted to make a profit?

According to a WellPoint Institute report, 3 cents of every dollar goes toward the insurance carriers profits. Is this outrageous?

Do you think it would cost more or less for our government to manage health care?

Answer by Ed Fox

Have you never studied business, or basic economics?

Tell me. If a company is not permitted to make a profit, exactly where would the money come from to pay the company’s employees? Where would the money come from to maintain the company’s premises in terms of utilities and maintenance?

Answer by mrwizard9090

No potential for profit-no health insurance company.

The government can’t manage anything.

Answer by Tom Z Gabrielle

Something to consider. Do you think private companies such as FedEx and UPS operate more efficiently than the United Says Postal Service? Hint: the USPS had a loss of 8.5 billion dollars in fiscal 2010. Do you think the government would operate the U.S. health care system most efficiently?

Something else to think about. Profits help maintain any company’s financial strength by maintaining a surplus to pay policyholder claims. Do you want your insurer to lose money each year or, at best, break even? Would you be confident that such a company would be there when and if you made a major claim?

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