Well, here in Germany you're paying (you have to) around 15% of your gross income for health insurance plus 3.4% for intensive care insurance. Your employer pays for half of those. Insurances are expensive but if you need them it's cheaper than paying for treatment yourself. What I pearsonally find worse is the public tv and radio fee you have to pay each month (18 euros, same as netflix premium) to finance some dickwad director earning 200k+ even if you don't watch or even have a tv/radio. Also it doesn't matter how much you earn, the fee is the same.
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This is very ironic if you work for an insurance company.
If you mean specifically health insurance.... yeah this is spot on.
I think it's more complicated for other kinds of insurance though.
Health insurance shouldnt be health insurance.
It should just be health care.
Absolutely agree.
And to your point, traditional insurance (home, auto, etc) pretty much targets a specific profit margin of about 3% or $0.03 for every dollar they take in. They tend to get eaten alive by competition when they get greedy, unlike a lot of other industries. But rates increase as costs increase ro maintain that 3% target…and costs have increased a LOT in recent years.
It’s a pretty misunderstood industry tbh, and not without its own issues for sure. But overall it has its purpose and is heavily regulated to ensure they’re playing responsibly. They earn their money on investing the money they take in, and basically take the bet that they can earn more in the market than the risk they take on for every policy sold.
Would be a shame if you had an...accident
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