jcd11235 0 #26 September 30, 2009 QuoteI'm basing my theory on the difference in incentives between the two entities. Insurance companies have a vested interest in looking out for their profits (without them they'd cease to exist), I'm still struggling to find the incentive for the government to look out for taxpayer dollars (other than political reasons). Political reasons can be very powerful incentives. Profit is often overrated as an effective incentive to maintain efficiency in normal operations.Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
rehmwa 2 #27 September 30, 2009 QuotePolitical reasons can be very powerful incentives. Profit is often overrated as an effective incentive to maintain efficiency in normal operations. Politics is often underrated as an effective incentive to play one group off on another for special treatment resulting in horrible efficiency in normal operations. ... Driving is a one dimensional activity - a monkey can do it - being proud of your driving abilities is like being proud of being able to put on pants Quote Share this post Link to post Share on other sites
justinb138 0 #28 September 30, 2009 Quote Political reasons can be very powerful incentives. Profit is often overrated as an effective incentive to maintain efficiency in normal operations. Agreed. Political motives can be effective, but their success is measured by the appearance of their actions rather than the results. i.e. maintaining the appearance of doing something rather than actually doing it, whereas the success of the profit motive is determined by the result (making a profit) rather than the appearance of making a profit (excepting cases of extreme fraud, Enron, etc..). And while profit can be overrated in maintaining efficiency, healthy competition tends to make efficiency a necessity. Quote Share this post Link to post Share on other sites
lawrocket 3 #29 September 30, 2009 Quote Insurance is gambling. Okay. I suppose you are correct. Insurance is betting on the possibility that you will lose big. Much like skydivers have reserves, they are betting on the chance that they will lose big. That's why the object of an insurance contract is peace of mind. It provides people with help in that. "I can handle $500 per month. I can't handle a $250k hit." So in effect it is betting against yourself. Which is why insurers have reinsurers. They bet against themselves, too. Quote Do you know the difference between an actuary and a successful professional poker player? Yes. A successful poker player could be a CPA. An actuary lacks the people skills and personality to do so. My wife is hotter than your wife. Quote Share this post Link to post Share on other sites
jcd11235 0 #30 September 30, 2009 Quote A successful poker player could be a CPA. An actuary lacks the people skills and personality to do so. Yeah, actuaries are like lawyers in that respect. Math tutoring available. Only $6! per hour! First lesson: Factorials! Quote Share this post Link to post Share on other sites
DougH 270 #31 October 1, 2009 Quote Quote A successful poker player could be a CPA. An actuary lacks the people skills and personality to do so. Yeah, actuaries are like lawyers in that respect. The CPA candidate, who has to deal with lawyers and actuaries on a regular basis, thinks this is hilarious. "The restraining order says you're only allowed to touch me in freefall" =P Quote Share this post Link to post Share on other sites
georgerussia 0 #32 October 4, 2009 Quote The people who will actually have the cash to buy insurance currently, not taking into account the impact of such an outlay, are not the individuals who I am referring to. I wonder why? You think it's ok for someone who has cash to buy health insurance to skip it (and buy something else instead), and then once they have a problem, just go to ER and skip the bill? Those individuals seems to be no differ than the individuals you described below. Quote This may seem cynical, but you don't encourage better behavior with hands outs. I see it in my own town all the time. Single mother, no job, government assistance, and more kids than my girlfriend and I could responsibly afford with both of our incomes combined. But that is just us, responsibility goes out the window when the goverment foots the bill. You are right, of course. The only problem here is that this is something nobody provided a solution yet. So the question to you would be exactly the same - what would you realistically do in attempt to fix it?* Don't pray for me if you wanna help - just send me a check. * Quote Share this post Link to post Share on other sites
