The Truth About Your Insurance Company

Let me just say it one more time, for the record.  Your insurance company IS a terrorist organization.

I knew it would happen, someone took issue with my blog calling insurance companies terrorists.  And of course they had to chime in with the tired refrain “Well, then, who’s going to pay for your health care, I don’t want a single cent of mine paying for your medical expenses.”

So, I just want to take this moment to explain to EVERYONE out there how insurance companies work and assure you that if you have insurance, guess what – your money is paying for someone else’s health care!

Let me break it down for you since no one seems able or willing to say this out loud.  When you pay your monthly insurance premium at roughly $400 a month for a healthy, 30 something, non-smoking, white guy (if you get it cheaper through your employer it’s only because they are paying the difference!)

The first thing that the insurance company does is take half of that amount – $200 – and uses it to pay lobbyists to make sure that we never get a public option, to pay executive bonuses, to pay lawyers who write contracts with so many loopholes that the insurance company is all but assured it will never actually have to pay out on a claim.

Then, with your remaining $200 they pay regular staff, your personal insurance agent takes their cut and now we’re down to about $100.  People seem to think that that $100 goes into some sort of magic account with only their name on it.  It doesn’t.  It goes into a giant pool and everyone who is on the same plan draws from that pool. So when my mother in law got sick with ovarian cancer it was not her accumulated monthly payments that paid for her $9,000 chemo shot every week but the collective group’s payments.  Now when too many people under one agency get sick or injured rates go up because the company wouldn’t want to stop giving bonuses or change our medical system to focus on preventative medicine when they can just raise rates on everyone under the plan.

So, when you say that you don’t want one single red cent of your hard-earned cash paying for my medical expenses – you’d better get off my insurance plan.  And, for that matter you’d better not go to the same hospital as me, because they too over-charge people who CAN pay in order to make up some of the losses they take from people who CAN’T pay!

So, what’s a red-blooded, tight-fisted American to do?

Well, GET OVER IT for a start.  Then, start thinking about the numbers a little.  We could ALL start paying a quarter of what we currently pay our insurance companies, call it a tax and provide quality health care to EVERY American.  Of course then we wouldn’t be lining the pockets of billionaire insurance executives, but personally I can live with that if it means that children in the richest nation in the world can stop dying of preventable and treatable illnesses and injuries.  I’d rather share ALL my red cents with you than pay for one more CEO’s private jet, island and mistress.

But I guess that’s just me or we’d all be out in the streets rioting for health care reform instead of idly watching the senate and congress beat it into some unrecognizable and unworkable “compromise” that will cost trillions without actually saving a single life all in the name of “reaching across the aisle” to a bunch of people who won’t unclench their fists long enough to shake hands on it.

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11 Comments

Filed under Of Course I'm a Feminist, Rant

11 responses to “The Truth About Your Insurance Company

  1. mom

    I’ll second that rant. Thankfully I can get my health care and dental in Asia, where it’s affordable, and pleasant.
    Thanks for telling it like it almost is, I think it’s even worse.
    adore you,
    muz

  2. Cathy Frank

    I agree… our rates have quadrupled in the past 8 years… it’s like making a mortgage payment every month, but there is no gain. Plus our deductible went up and they seem willing to cover fewer services, especially preventive ones. It’s a quagmire… it’s so polarizing because of the amount of money at stake… you hit it on the nail head!

  3. Alisha Boykin

    Get out of my head Bree! Insurance Companies ARE at the very least greedy capitalists run amuck. We pay more for our insurance every month than our mortgage!
    Something has to change.

  4. Based on your argument – that insurance is all about pooling money and hedging bets against who will make claims – then ALL insurance is suspect, since ALL insurance works the same way. The actuaries base insurance premiums based on the likelihood of a claim.

    Based on this argument, what we all should do is take the $400/month and put into a savings account and only touch it when we have a medical emergency.

    Oh … your insurance may not be as good as mine and reducing us all to some government funded piece-o-crap ( we all know how efficient gooferment is with our money) is not a solution. You are just upset that YOU can’t afford better healthcare.

  5. Zach

    A comedian once said,” We should call insurance ‘In Case Shit Happens'”
    If “shit” should happen, I hope there is some way to pay for it, or I’ll live (or die) with the consequences. Insurance IS a gamble. You hope that you do not put more in than you get out. Most people pay much more into the system than they receive out and that is why it is a profitable business. We ARE better off just putting our money away every month “in case shit happens” so we can pay for it ourselves and not let the middle men get fat off our hard earned dollar.

  6. No, Khurt (what a ridiculous name) – it is not about someone else not having as good of an insurance (and believe me when I say that I’ll laugh in glee when your own insurance drops you randomly for a necessary treatment or payment). It has to do with the fact that there are millions of people who are uninsured or under-insured for no reason other than the political BS that dominates a capitalistic-driven company. You are operating under two misguided assumptions: 1) That you actually worked or deserve your station in life, which I doubt you actually analyzed to realize how precarious it is and how much of it is based on luck: and 2) This is not about taking from the well-off and giving to the undeserved. It takes one tragedy to ruin a person financially – even when they have great insurance. That is a broken system.
    And yes – all insurance is a scam. If you don’t believe so, then either you are blind to the realities of how insurance companies work, or you work passionately for an insurance company. Either way, I feel that a meteorite should fall from the sky and knock some sense into you.
    This is the world’s strongest and biggest economy, yet it has one of the worst medical systems in the world. Most of that is because so many people – probably such as yourself – who truly believes the capitalism that drives insurance companies is the American way (even when that same capitalism drives insurance companies to actively work against the American people and government). It’s a broken system that will fall apart. There are too many good people who work hard, work in great jobs or industries, who never commit crimes or cause great hardships on neighbors, yet still are burdened unrelentingly by insurance and medical issues.
    If you feel that it is right for a a 10-year girl and a 12-year girl from a middle class (what is left of the middle class, of course) to be without insurance against the possibility of sickness or injury, then you’re an idiot or a bastard – or both. Again, I would hope a meteorite falls from the sky and knocks some sense into you, but this time I would hope the meteorite is the size of a truck.
    I have great insurance. I have worked relatively hard to get its benefits, along with other benefits. However, I’m not so selfish or short-sighted to realize how inequitable and unjust it is. Oddly enough, I tend to believe in the general welfare of the country as a whole, rather than my own little circle of social status or family. Odd how… American and Christian that view is, isn’t it? One could argue, then, your point of view is… well, un-American and un-Christian.

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