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Thursday, July 26, 2007

Insurance: The Concept

Stealing from others to pay for yourself (health care)(.?..) free health care so where do you think the money comes from the trees?

I just wanted to comment briefly on the idea that a nationalized health care system is stealing from others, and to clarify that such a system is in no way "free".

Any talk of health care is implicitly referring to a system of insurance. Insurance is a financial instrument used to reduce the impact of catastrophic events on any one individual or entity. One does not typically refer to the purchasers of insurance as "thieves", nor see the financial institutions underwriting insurance policies as perpetual "victims".

An Example: If I purchase auto insurance and then am unfortunate enough to crash into a tree, asking the insurance company to reimburse me is not stealing.

In fact, people who buy insurance are acting very responsibly, because they are helping to ensure stability in society by being able to live up to their own personal and professional obligations.

I hope that helps.

RH

PS, No I don't think the money will come from trees, it should come from policy premiums and reserves. I would elaborate, but I am boring myself with all this insurance talk.

3 comments:

Jessie said...

I 100% agree with you, and to call it stealing is just ignorant anyway. It will keep traffic out of the emergency rooms for real emergencies, and so fourth. Youre on the right track.

Melin said...

okay, so forced Universal Health care isn't stealing from people? To clarify what I ment I am talking about government health care that is forced upon people. If I am young and healthy I should not be forced into buying health care. If I dont want health care then that should be my choice. If I want private insurance or have my own account for an emergancy again that should be my choice. So, I guess im just ignorant for thinking that way huh? Ignorant to say that one pays for someone else by force. Usually that would be called a thief.

Retro Housewife said...

Melin,

What do you call it when the person who doesn't have health insurance, who is "young and healthy" and does not feel the need for health insurance, is involved in an accident, or contracts meningitis, and suddenly finds themselves in the emergency room where they are obligated to treat you whether you can pay or not? Suppose the bill adds up to $10,000 $50,000 or even $500,000? Are you going to be able to pay that? Most likely not. But somebody will actually be forced to pick up the cost of your treatment. It may be the hospital, it may be the government. Most likely it will be a combination of the hospital, the government, and every responsible person who buys and pays for health insurance. So who is stealing from whom?

RH