You might be surprised to learn that we are not always enthralled with health insurance. Don’t get us wrong – we think everyone should have some kind of protection against catastrophic claims, especially given the freakishly out-of-control cost of healthcare in this country. But that’s just it – nobody really seems to know what it costs. Health insurance has become healthcare financing, with the health insurance company receiving and paying the bills.
The video uses auto insurance as an example – something we’ve done in countless conversations. What would auto insurance cost if your insurance company paid for oil changes and new tires? What would that do to the price of those items? It’s an interesting mental exercise.
There is a better way, which we’ll discuss tomorrow.