Insurance has too much control, with a stronghold on multiple different industries. The idea of insurance is that its for when an unexpected emergency hits, that would sink or severely impact the ability to maintain their previous life- car accident, major medical, flood, hurricane, fire, etc. In exchange for a monthly fee, the insurance company shoulders the load with you- the more money required, the more it is insurance’s responsibility to help.
Today, we have a very few amount of insurance companies, especially when you break it down by industries. And theyre shouldering ALL of these “emergency payments”? Its not possible. Its a business strategy that would effectively be designed to fail. That is why insurers must create incredibly complex systems- with different “plans” with fine-print exceptions and technicalities that were worded strategically so exploit the loophole they created. We now have “mandatory” insurance in certain aspects, and its created multiple layers of money-draining from WE THE PEOPLE.
The worst part is how deeply institutionalized this racket has become. The medical industry’s prices of ALL things has been successfully rigged to MAKE insurance NECESSARY. Now theyre in charge of EVERY form of care-big, medium, or small. Yet quality of care is failing horribly and continues getting worse. Network costs are rigged by insurance, Any medical field of any kind has virtually been made completely RELIANT on insurances payouts. Out of network doctors are made to deal with prices(or payouts) that make it virtually unaffordable to survive, let alone compete in the same field with “in-network” options (niche exceptions to that rule).
Crowdfunding at local level and community-level of all kinds has successfully served this purpose in the past. STRICT rules on the powers and controls of such systems. Decentralized as possible.
Theres obviously alot of ins and outs to this and id love to get all the way into it regarding ANY of the insurance industries.
Where i land on it:
If Insurance companies werent dishonestly rigging the game against THE PEOPLE, insurance would no longer be such a lucrative field. CRISIS isnt supposed to be profited from anyway.
BAN THE INSURANCE Business- whose interests will never align with the people theyre supposed to advocate for.