 Car insurance question:? |
| My car was recently stolen and has yet to be recovered. When I file a claim with my insurance on this matter, will it make my rates go up??... |
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 What insurance should i get? |
Additional Details
For car,thats ... |
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 Are there any "non-profit" insurance companies? |
| Private insurance's "job" is to return a profit to the shareholders. In the process they deny claims and provide golden parachutes to CEOs.... |
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 My insurance agent is disrespectful. What should I do? |
| I called my insurance agent and told him I was afraid to drive my vehicle because it was stolen by some gangsters and they were caught and he told me to get a gun and get me some gangsters to ... |
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 I need to go to the doctor but have no insurance? |
| Will I have an option of them just mailing the bill and then making payments. I have no insurance, yet, in the process. I'm 21 years old and need to go to the doctor for anxiety problems? I live ... |
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 Is there a website that tells you about complaints or ratings on an insurance company? |
| I work for a mortgage company in Southest Louisiana. A custome of mine got an insurance quote from some company online. They quoted $1400/year for a house that costs $190,000. I closed on a house 3 ... |
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 Does anybody have a Home Owners Insurance Company that they have used and is happy with? |
I am searching for a new policy because my insurance company is useless when I have needed them most.
Additional Details
I live in Las Vegas, NV. The current company Virginia Surety C... |
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 How much for term life insurance? compared to whole life? |
im married, age 27 and interested in buying life insurance for me and hubby.
for just myself how much would my monthly be approx? im healthy dont smoke and dont want to pay too much money....
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 Can your employer change your health insurance coverage without telling you? |
| My husbands health insurance changed its deductible from 1,000 to 2,200. His employer said they couldn't afford the increase in rates and the insurance technically ran out 2/1 but the insurance ... |
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 Where can I find affordable medical insurance as a self employed person? |
| I am a self employed person so I don't have medical benefits like you would if you work for a company. I am paying well over $600 a month for medical insurance coverage as a business owner. Does ... |
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 HUSBAND NEEDS MEDICAL ATTENTION, our insurance is in transition...any suggestions? |
| I need to take my husband to Urgent Care this morning....he has had a leg injury that is unexplained, and back of calf has turned yellow. I am fearing a blood clot. I am in transistion of ... |
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 Health insurance "out of network" coverage question? |
| Hi. If someone is knowledgeable about health care insurance I hope you can help. I had a biopsy done an a hospital that was in-network for my insurance company. They sent the biopsy to the only ... |
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Annabelle S | Is it feasible to find 100 families to put $100 a month in a savings account to pay for medical expenses? |
Its just an idea I had, wondered if it would work, if its legal, etc. My family has no health insurance, and I am sure that there are many other families out there in the same boat. We have no major medical issues, just checkups, physicals, dentist visits, etc. And I would like to have something to fall back on just in case of an accident or catastrophic illness. I know there would be obstacles, who would run it, how to pay the bills, who to let in, how to find replacements, but if it worked..... |
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David W
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Terrible idea. That money would be gone in less than a week. There are no controls, and you'd be paying for someone else's kids braces or some middle aged woman's boob job. Or you could get lawyers, they are well-known for keeping down the cost of health care. |
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mbrcatz
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sure, you can do it, it's a risk sharing thing . . the biggest problem is, how do you make sure all the families are reasonably healthy? And the second biggest thing is, what if one person has a catastrophic issue, like a preemie baby? That can eat up $40,000 a day in extreme care . ..
Your biggest risk is running out of money - so the first person who puts in the big claim gets paid, and everyone else is SOL. |
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Insurance Biz CT
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Sounds like you want to start your own insurance company and invite a few healthy people to join. I think the insurance regulators in your state would frown on this. They are responsible that insurance companies have the resources to pay claims, and I don't think you would pass their test. Do you really think that $10,000 per month is enoughto insure 100 families?
What would happen if, on the way to a meeting of your insurance company, there was a car accident, involving 3 families. You've been collecting money for about 6 months, but you've paid out about $5000 in claims, so you have a balance of $55000 plus a little interest. Do you think you can pay for the claims of the 3 families involved in the accident?
Who decides what benefits to pay for. You mentioned physicals, dental visits, etc. Will you offer free preventive care? Will you offer vision care? How about Orthodontia? How do you know what the cost of these things are? How can you know how much you'll be paying out for each family?
That's why insurance companies exist, because they know what these things cost because they have networks. They have claims experience that Actuaries go through to determine what the average family of 4 will cost for a year.
Just because you don't have insurance now, doesn't mean that you can't get it. Talk to a local agent about a Health Savings Account plan. You can purchase it for less than the traditional HMO plan, plus it will give you an opportunity to put money away on a tax-advantaged basis to deal with medical bills as they arise. |
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The Rabbi
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It won't work, plain and simple. |
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fcas80
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Insurance companies hire actuaries, investment managers, underwriters, claimspeople, accountants, lawyers, programmers, etc. to make sure such schemes work. |
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zp055att
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That's actually not a bad idea. In fact it's called an HMO. Many payers in and hopefully fewer takers out. However with today's medical costs you probably need at least 3,000 in-payers for every out-taker thus the ratio. HMO's have 100's of thousands of clients to provide the economy of scale you describe. Look into the cost of cancer treatment for 1 individual and you'll see the dilemma. Good luck to you in your quest. Health care is quite a problematic arena for most of us ordinary folks. |
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Andre M
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forget that. Just move to Canada and get it for free. |
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