Comments by "z08840" (@z08840) on "Why I dislike most forms of personal insurance" video.

No, health insurance doesn't work the way you think - in case of serious problem insurance gives you more money than you've paid - it gives you money which other customers paid. Look at this as a community cashbox - by paying insurance you are helping other members of community and you are guaranteed to receive the same help if you need it.
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oh, Louis, until this point I thought you are a grown up man, but now, gosh, you are so childish :) when your life is in danger, you will forget all of this bullshit you are talking here and you will beg for help
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Louis Rossmann it's true that we have many problems with health care here, and these problems have to be addressed soon or later, but it's completely not true that insurance companies are only responsible for this - there is a huge problems all around - from malicious patients who drag doctors to court for no reason - why doctors require huge insurance themselves and therefore increase price for their service; malicious doctors who appoint for procedure not only needless but sometimes even harmful for patients in order to be paid by insurance; absolutely awful doctors who knows nothing and come to profession to only earn good money; In my opinion it's much better to have universal health care even if will cost more taxes - it would solve many of problems. and that childish thing I mentioned is regarding your claim that you take responsibility for your decision to not have health insurance - only children don't recognize value of their own life and underestimate survival instinct
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Louis Rossmann it doesn't really work for health insurance. However obamacare turned up absolutely inefficient and unfair - initially I supported it till this ugly implementation. I would rather pay higher taxes and have universal.
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Fred H 1.1 everyone has health - it's not a car which you don't have if you can't afford it; 1.2.1 young people need insurance to maintain health; 1.2.2 young people need insurance because they are affected by diseases too, apparently; 1.2.3 you said young people don't need insurance, then you said they have low rates... doublethink much? 1.3.1 you don't directly interact with health insurance companies - your doctor do - and price on doctor's service is a subject not your with doctor negotiation, but rather your doctor's with insurance company; 1.3.2 as you are not a specialist you can't directly estimate quality of doctor's service - for example death rate for oncology patients for one doctor can be higher than for other not because his poor service quality, but rather opposite - because he is a talented doctor who is willing to help people and takes most complicated cases, rather than other doctor who cares only about money which come with this cheap "reputation"; 1.3.3 capital in field of health care has veeeeeeeeeery long turnaround time which doesn't allow to be well self-regulated - approximately the same way as fundamental science - it's why we (have to) have fundamental science well state(public)-funded - the same we have to have for healthcare; 1.4.1 "who are about to die" - kinda argument of christian apologetics on Exodus 20:21 - disingenuous; 1.4.2 "insurance is not and has never been tied to humanism" - exactly why healthcare should be tax-paid universal 2. I meant in light of (1.3) service and drug prices should be state regulated - this at least will prevent winding up prices; from other side state have to provide adequate doctor's liability insurance and restrict patients from doctors' suing - all conflicts should go through professional commissions; 3. human is a social species - our individual prosperity is based on successful society, and successful society is based on mutual support - even if current condition is not an ideal, it doesn't mean we shouldn't seek such.
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Fred H >lots of people have cars and things they cant afford. and how they have them? you are talking nonsense >Young people are already healthy it's not about chronic conditions - occasionally people catch something which has to be addressed to prevent development of chronic condition in the future >their rates are low because, because they dont need it no, it's because they use it rarely because they don't have any chronic conditions yet - and preventing early development of such condition occasionally requires attention of health professionals >Your doctor sets the price, and charges you nope, he doesn't - my doctor charges me only co-payment - everything extra is question of his and my insurance negotiation - I even don't know how much he charges until I get report from my insurance >if they suck, people dont get better or die. reread 1.3.2 >Capital has a long turn around? that doesnt make sense. I'm sorry for you >investments have turn arounds. Insurance and health care receive income immediately. apparently you don't understand what turnaround is about - it's kinda funny actually - this "investments have turn arounds" - it reminds me one discussion with some bible thumper regarding evolution - he understood what "plastic" is but had no idea what "plasticity" means :) >[Science] affects the whole of society not individual people. health of individuals affects the health of nation which directly affects efficiency of national economy gosh, it's fkn obvious >beating slaves and connecting me to that you didn't get the point I didn't connect you to anything - your position is equal to christians' who claim that Moses law is humane because Exodus 20:20-21 >you simply saying so doesnt make it true. I'm not "simply saying" - my argument is because health care on scale of modern society is not about humanism - i.e. doctor will not help you if you don't pay - health care should be universal to cover those who can't afford it without humiliation and financial desolation >In a free market, products that are too expensive wont be sold. health care is not such product - people get financially ruined in attempt to defeat the disease - doctors don't care where you got money to pay them, and you will sell your house, your car and everything you have to survive - and even you will die - there is enough rich patients who can and will pay whatever you didn't - just raise prices - again - health is not a car >its when you get government intervention prices begin to rise to absurd amounts not that absurd we have right now - it can't be worse already >why a free market on drugs allows prices to skyrocket. because there will be always patients who have enough money to pay any price - health is not a car - you can't survive without it >being forced by a larger body (like the government) to participate in a program is not mutual. surely it is - you pay taxes for common good - mutual is not necessary voluntarily - Allen Ellsworth above it's fkn obvious >If you dont do that, youre a hypocrite here is no need for ad hominem - doesn't help you a bit
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Louis Rossmann yeah, there are problems everywhere where money are - including health insurance, - but you got completely wrong how it works in the first place - which I'm pointing out, and in the second there is a lot of people who are actually getting care which they need; >that they were told would be covered by insurance, winds up not being covered by insurance court
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Louis Rossmann and what you stand behind? that nonsense you claims how this system works? it simply doesn't work the way you claim - there is nothing to stand behind - you are simply wrong
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Louis Rossmann court. because it's how we, in civilized society, solve conflicts. And don't go to this hospital anymore/write a complaint to upper management and state/federal supervising agency. I absolutely agree that there are problems all around, and there are dishonest people works all over the places - including insurance companies - but it's not exclusively problem of insurance system but rather of whole humanity. And there are plenty of people whom life was saved because of insurance, plenty of people who was able to stay afloat because of insurance - so don't make such broad claims. It's true that on average, average person spends on insurance more than he/she gets - but you, personally, is not a statistical "average person" - once you need more than you can afford - insurance is able to cover your unaffordable expenses, and yes, on expenses of others, but affordable - and vice versa is true - insurance covers other persons' unaffordable expenses on yours affordable - it's how it works. And don't get me wrong - my first comment wasn't meant to be condescending - you are a bright, wonderful, rare person - just a little bit perfectionistic :) BTW >and no one seems to care this is capitalism - change provider - free market is one who cares; would you find it's a conflict of interest for you to make a proper MB fix which will last forever? and why you go against your interest?
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Dracolith1 and we have such thing - it's called charity foundation - go find one and good luck. The only protection from such conflict of interest - free market and free competition. Please notice - many types of services have exactly the same conflict of interests - including Louis Rossmann's repair service.
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Dracolith1 >"Charity foundation"; Nonsense. yeah, exactly my point >Greedy managers converted them and this is a real nonsense - managers don't create conditions of their employment - owners do - and owners (aka policyholders) have no choice but to put managers' salary in direct relation to company performance in terms of fund rising - nobody wants to work for free. >because by the time you need to make a claim, they already have your money firstly, they don't "have money" - they earn money - you stop paying premium - they stop earning money; secondly there is such thing as reputation. >Also, in the US, insurance is essentially a cartel 1. you need to prove this claim; 2. as soon as you have a proof - you are welcome to file a complaint to FTC and to antitrust division of US department of justice. >the "competition" is playing by the same rules yup, exactly - and this rule is competition
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Dracolith1 socialism is a good theory unless you have to implement it in real world
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Louis Rossmann you have conflict of interest to fix device properly - fixing device is your primary product, right? do you remember numerous videos where you talk that you fix not only direct issue which causes current problem on MB, but everything you find which requires your attention - you can easily omit this stuff and device maybe will fail later for obviously different reason - then customer will bring it back and pay more money... or will not - but hey, you "already have his money" as wisely noticed Dracolith1 :) And not to mention you perfectly can intentionally make device fail in different way later - exactly business behavior which you accuse insurance companies for. In insurance business it's considered denial IF investigation find that case is not covered by this particular insurance contract, and this happens every day because people every day claim insurance for cases not covered by contract. However if case is covered by contract and insurance don't pay - "that would be considered theft" (c)you
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Dracolith1 it's not worth for insurace company to not pay insuranse, because they are going to get cought, or the customer is going to get suspicious - insurance must have not done a good job, it reflects badly on their work, next time the customer goes to a different And so on and so forth - you got the idea. >Unlike with insurance nope, it's not unlike - it's absolutely the same >Businesses in most industries are not allowed to operate the way that insurance companies work, :)))) you are funny :)
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Dracolith1 >Businesses in most industries are not allowed for example? what's not allowed to others what is allowed to insurance companies? >with the shoving a 1000 page contract it's not 1000, but rather few dozens >in your face nobody forces you to sign it >that lists a lot of obscure conditions after Louis Rossmann's case to the paragraph stating "losses due to natural disaster events (such as flood, earthquake, volcano eruption, armageddon) are not covered by this contract" one more page will be added to clarify, that power outage due to natural disasters (such as flood, earthquake, volcano eruption, armageddon) is due to natural disaster... >where you will not get what you were paying for or maybe you were not paying for this? maybe it's better to read contract BEFORE you sign it?
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Louis Rossmann firstly, by the same means you provide evidence to the bank that transaction is correct; secondly fail is not directly linked to your repair - how often other repair shops, who do not follow your model and fix exclusively issue in question get a chargeback when something else fails? Pay insurance with credit card and dispute last 4 payments. small court doesn't cost "hundreds of thousands of dollars" - have you filed claim for your case? no. why? maybe you read your insurance contract finally? >Who has more to fear you - as you a small business - it's not a question of type of business but rather of size of company - can you afford lawyer who will dispute chargebacks for examples? unlikely
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Louis Rossmann to me personally I dealt with homeowners insurance on few occasions and all the time they were absolutely honest and precise regarding what is covered by contract and what isn't.
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Dracolith1 to company it's nothing - to Louis it would cover significant part of his loss due to power outage. The ending of charge dispute is the same as for Louis's customers.
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Dracolith1 Louis Rossmann and again - your presumption here is that all insurances are scam - when it's obviously not - millions peoply are getting adequate service.
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Dracolith1 Louis Rossmann and don't get me wrong - I don't say it will be success if either you (as an insurance customer) or your customer dispute charge on credit card - it's matter of providing evidence that charge was correct by presenting customer's signature for example - for everything else there is a court
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Fred H I don't see it's a terrible idea - there is not much difference between taxes and requirement to buy insurance, however implementation also requires at least regulation for prices in health care - which was not done in any way.
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Fred H 1. healthcare is a special field - it doesn't follow usual market's rules; 2. obamacare doesn't provide price regulation as it doesn't specify correlation of quality to price of the "product" adequately; 3. nope, I don't think it's ok because of this, and I pay my insurance myself - your "argument" is ad hominem, which basically is non-argument.
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Fred H 1. surely it is different in many ways - for example it doesn't follow supply and demand rule, or, for example, it's extremely tied to philosophy of humanism which our society adheres to; 2. I said "adequate", and I meant prices on other end; 3. yes, I believe humane society should follow humanistic route.
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