Profit on health insurance should be considered as morally corrupt as selling cigarettes.
The U.S. Tax Code should tax health insurance industry profit at 100% with the proceeds used to fund healthcare.
The U.S. Tax Code should tax health insurance industry profit at 100% with the proceeds used to fund healthcare.
Comments
The motivation is enabling people to have care, and getting paid doing it.
Any profit exceeding that is money unnecessarily collected or coverage not provided. So tax it to provide that care elsewhere.
What attracts investment w/o profit? Who seeds a non-profit at that scale on principle alone?
Maybe I'm too pessimistic, but I can't see anyone rallying enough support to underwrite/establish this.
Nothing wrong with profit. The problem is greed.
Businesses don't need to profit. People do : people seek profit because we've evolved to hoard resources and reduce inefficiencies; profit.
With the businesses earning what it needs to pay everyone (so they profit), it has no need of more.
Businesses can't earn until someone does the early legwork. The NFP model might work once that point is reached, but I don't see how it gets there to begin with unless there is an imbalanced reward for imbalanced risk/effort.