How Does Insurance Work?

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Its about economy of scale. When you sign up for healthcare coverage, you join a group of other people to combine your healthcare purchasing power. Your insurer covers the whole group, rather than individuals, so everyone shares the cost of staying healthy.-Stay Smart Stay Healthy See more vidoes at: www.youtube.com

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25 Comments For This Post

  1. wongagency Says:

    You can NEVER make a complainer happy. No matter what “they” will always see the glass Half Empty and complain about it.

    This video is well put together simply as an education…Period. STOP whining about everything.

  2. chetdude Says:

    It looks like this screed was created by an insurance company.

    They conveniently left out their obscene profits, fat executives with their perks and their armies of claim deniers…

  3. drchrishansen Says:

    HUGE problem! Only explains the risk model – poorly. Health insurance has a fiduciary responsibility to the SHARE-holder not the POLICY-holder. This means that companies are required by law to increase the value of a share over the “public good” Adhering to legality avoiding morality.

    Save your money – spend it instead on good food, use that gym membership/equipment that you bought, get some sleep, turn off the TV, and enjoying your family. That is the best risk mitigation!

  4. Metelex808 Says:

    what? why is it $0.00?

  5. Metelex808 Says:

    America should just become socialist. So much easier

  6. sickmint79 Says:

    or maybe it’s an attempt at explaining how insurance works, which few people understand. by your comment i doubt you do either. now that i watched it it’s actually a pretty poor explanation though, like the one i would give 5th graders.

  7. sickmint79 Says:

    socialism isn’t voluntary is it? and insurance is risk mitigation.

  8. sickmint79 Says:

    why would someone cover you for pre-existing conditions? if you get in a car accident do you then get car insurance?

  9. sukiannab3ll3 Says:

    I agree with it very much as I am a good Example….My Insurance Company pay all my BiLL…..

  10. exbronco1980 Says:

    i hate living in the US

  11. insurancequotesrus Says:

    Excellent info – thought your use of graphic effective – well done!

  12. jlee106 Says:

    this is awesome.

  13. damothegreatestone Says:

    hi: new zealand costs: broken leg and pregnancy=$0.00. wake up america

  14. Lengo67 Says:

    When you sign up for coverage, you join a group of people who help the insurance company lobby in Washington!

  15. Lengo67 Says:

    This is the way it works? Not so fast! Who pays the insurance company’s employees? Why doesn’t BlueCross/BlueShield pay taxes? How does BlueCross afford to spend $2.3 million on lobbying? My money goes to help my neigbors? Not so! Only a portion goes to helping my neighbors, and another portion goes to paying salaries and lobbyists.

  16. lilsk8boardcame Says:

    thank you

  17. BurnsideStudios08 Says:

    This is not the American model. Insurance companies get majority of there money from the healthy and when a healthy person gets sick they get dropped.

  18. bearsagainstevil Says:

    yup clearly this video leaves out people with pre-existing conditions and the fact the insurance company is trying to make a huge profit .
    Im british and for some things trying to make a profits fine but not for a healthcare system

  19. InFromTheVoid Says:

    ANd don’t the insurance companies sometimes drop people once they get sick?

  20. InFromTheVoid Says:

    so insurance in voluntary socialism??
    By that I mean…From one’s one’s ability (to pay) to another man’s needs.

  21. smegmataa Says:

    Capilist healthcare has inherent problems. The population is split into insured and uninsured groups, or into selectively groups (as with private insurance with pre-insurance selection either by the insurance company or the insured) the concept of population solidarity breaks down. Insurance systems must then typically deal with two inherent challenges: adverse selection and ex-post moral hazard.

  22. smegmataa Says:

    Private healthcare is a problem. The population absorbs the cost of risks to an individual by spreading the impact of incurred costs amongst the insured population.However, if the population is split into insured and uninsured groups, or into selectively groups (as with private insurance with pre-insurance selection either by the insurance company or the insured) the concept of population solidarity breaks down. They deal with inherent problems:adverse selection and ex-post moral hazard.

  23. nolaeast Says:

    I Like it!!!!

  24. nolaeast Says:

    I Like It!!!!!

  25. XFuncCaRteR Says:

    This looks like a piece of viral marketing for the US health insurance industry.

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