Comment by klodolph
2 days ago
> If you look at the actual profit margins it’s low single digit percentages. You could eliminate profits altogether and virtually nothing would change. We even have non-profit insurers to look at
Look at administrative overhead instead of profit. People understand that there are problems with the system, and maybe they’re misattributing the problems, sure.
The "profit" isn't money in the bank. It's overpaid bullshit jobs and work and perks that benefit the people in and around the organization.
It makes me understand better how the horrors of the history books came to be when the same exact demographics who'll complain about nominally nonprofit hospitals or educational institutions paying their people insane sums and doing random BS to burn money or comparable behavior from charity entities set up as tax shields by the wealthy refuse to see that having a profit cap creates an incentive for the insurance industry to behave the same way.
That second paragraph is a wild ride. I don’t think you’ve gotten a good understanding of history if this is how you’re connecting things.