> Insurance was not supposed to work this way first of all.
Insurance is a mechanism to transfer risk, this is exactly how it works. Actuaries calculate risk, and then the insurance company sells a policy they think they can make money on based on the calculated risk.
US health insurance isn’t insurance, it’s just called insurance for whatever reason.
Insurance is a mechanism to transfer risk, this is exactly how it works. Actuaries calculate risk, and then the insurance company sells a policy they think they can make money on based on the calculated risk.
US health insurance isn’t insurance, it’s just called insurance for whatever reason.