Insurance Isn't Rocket Science

Understanding insurance isn’t complicated. A large number of individuals throw money into a pot and those that are unfortunate and need help take money out. Hire some administrators and pay them a reasonable salary and bingo, insurance.

But the con’s see insurance as an opportunity to get something for nothing. They start their insurance company and after everyone throws their money into the pot, the con’s take a big chunk of the money for themselves. This money comes directly out of the pot and will effect the amount left for helping people. There wouldn’t be a problem if these con’s would pay themselves a reasonable salary but some are taking obscene amount and calling it salary. One exec took over a billion dollars compensation for himself when he retired. Even an idiot should recognize the problem when half your premium goes directly into Mister Money Bags pocket.

Now the Democrats and republicans differ on how to handle this. The Democrats want to help those that are insured while the republicans want to help the execs get more profits.

The execs of course give a generous cut of their booty to their republican friends.

The Democrats want regulations to keep the unscrupulous execs from stealing all the money from the insured. The republicans want to eliminate regulations to encourage competition. Competition, you see, is good when defined by the con’s. I agree that competition can be good for things that are not essential. Things like mp-3 players and computers. Competing companies have to deliver a good product for a reasonable price or the public would do without. But for essential services like health care, competition doesn’t work. For example, in many communities there is only one local hospital. When community owned the community determined the quality of care per dollar. The administrator execs were paid reasonable salaries and the overhead costs were kept reasonable. Now Mr. Big Bucks comes along and pays off he local politicians who in turn deregulate and allow him to buy the hospital. He then of course will pay himself a huge multimillion dollar salary. The inflated salary is covered either by a reduction in the quality of care or an increase in costs. This isn’t rocket science people. Where is the competition?

One purpose of government (which is us) is to protect ourselves from the unscrupulous. For essential services, we need regulations to keep the predatory con’s away.

Rationalization is the Key to Happiness:

The public has been bombarded for years by propaganda that corporations will take care of us better than government agencies. Enron is a great example of a corporation that spent millions paying politicians to deregulate so they could prey on the vulnerable. Social Security is a system that has low overhead costs (no exec is paying himself hundreds of millions) and have served the people well for decades.