this post was submitted on 26 May 2024
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News

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[–] [email protected] 32 points 6 months ago (1 children)

The insurance companies want it that way, though. That's the sneaky bit.

Insurance companies are legally required to pay out 85% of all money they take in back to their insured. That leaves them with 15% to cover payroll and rent and profit and all the other shit.

So by having medical expenditures stupidly expensive, they get to charge higher premiums, which means the 15% they get to keep every year is a much larger amount of money. Why have 15% of $1,000,000 when you can have 15% of $100,000,000?

[–] Soup 10 points 6 months ago (1 children)

Well that’s fucked up. Jesus.

[–] [email protected] 5 points 6 months ago

This is America.