In article , pyotr filipivich
says...

You mean they're taking my premiums and *not* paying for
folks to get treated by doctors - that they're simply
playing the shell game like the rest of the megacorps?

Nope. they are paying the bills, and with the left over cash, trying
to make a little money on the side. You'd appreciate if they make a
"killing" in the market, they don't have to raise rates "as much". (Of
course, when they lose money, somebody has to make it up.)

Right, they're *gambling* with the premium dollars. If they
make money, they keep it. If they lose money, they raise the
rates. It's pretty obvious that the insurance regulators are
squarely in bed with the companies they regulate if this sort
of crap is the norm.

And what kind of 'left over cash' do health insurance companies
have? No *wonder* there's a healthcare 'crisis' in the US, the
guys in charge are taking the money and playing the ponies with
it!

Silly me, I thought the paradigm was: customers pay premiums
to the insurance company for coverage. The company takes all
the money and puts it in an account. They pay for the doctor
and hospital bills out of that account. For their trouble
they get to keep a small percentage to pay for employees and
to pay dividends on their stock.

Where in all this does it say, "take all the premiums and
invest them in the market?" I can sure see that my parents
raised a fool, I'm absolutely in the wrong line of work
here.

Jim (how do I start and insurance company anyway?)


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