| ▲ | lotsofpulp a day ago | |
Health insurance companies in the US are not allowed to deny coverage, and can only price premiums based on age (highest premium capped at 3x lowest premium, location, and tobacco use. https://www.healthcare.gov/coverage/pre-existing-conditions/ https://www.healthcare.gov/how-plans-set-your-premiums/ Health insurance premiums in the US are more tax than insurance. They also have low single digit profit margins with less than desirable shareholder returns (many are non profit in the first place), so they don’t have much room to lower premiums without also reducing healthcare expenses. The insurance business in general is very competitive and not very profitable, so an insurer that tries to collect outsized premiums will usually suffer a loss of business. | ||
| ▲ | monooso a day ago | parent [-] | |
> The insurance business in general is very competitive and not very profitable... Knowing several Americans, and how much they pay for health insurance (and are still required to pay for some things "out of pocket"), this is incredible to me. And that's before you even get to the process of making a claim. Such a broken system. | ||