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
25 Responses to “How Does Insurance Work?”
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great simple an effective vid.
Of course the amount you pay for your cover vaires by insurer and this isn’t addressed.
You really need to get quotes from multiple providers to make sure you’re getting the best deal around.
Sites like cheapest-insurance. info can help a lot with this
MrMortgage1
February 11th, 2010
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.
wongagency
February 11th, 2010
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…
chetdude
February 11th, 2010
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!
drchrishansen
February 11th, 2010
what? why is it $0.00?
Metelex808
February 11th, 2010
America should just become socialist. So much easier
Metelex808
February 11th, 2010
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.
sickmint79
February 11th, 2010
socialism isn’t voluntary is it? and insurance is risk mitigation.
sickmint79
February 11th, 2010
why would someone cover you for pre-existing conditions? if you get in a car accident do you then get car insurance?
sickmint79
February 11th, 2010
I agree with it very much as I am a good Example….My Insurance Company pay all my BiLL…..
sukiannab3ll3
February 11th, 2010
i hate living in the US
exbronco1980
February 11th, 2010
Excellent info – thought your use of graphic effective – well done!
insurancequotesrus
February 11th, 2010
this is awesome.
jlee106
February 11th, 2010
hi: new zealand costs: broken leg and pregnancy=$0.00. wake up america
damothegreatestone
February 11th, 2010
When you sign up for coverage, you join a group of people who help the insurance company lobby in Washington!
Lengo67
February 11th, 2010
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.
Lengo67
February 11th, 2010
thank you
lilsk8boardcame
February 11th, 2010
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.
BurnsideStudios08
February 11th, 2010
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
bearsagainstevil
February 11th, 2010
ANd don’t the insurance companies sometimes drop people once they get sick?
InFromTheVoid
February 11th, 2010
so insurance in voluntary socialism??
By that I mean…From one’s one’s ability (to pay) to another man’s needs.
InFromTheVoid
February 11th, 2010
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.
smegmataa
February 11th, 2010
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.
smegmataa
February 11th, 2010
I Like it!!!!
nolaeast
February 11th, 2010
I Like It!!!!!
nolaeast
February 11th, 2010