“Did you know that the United States government limits the amount of profit health insurance plans can receive from your premiums? That sounds great in theory, but think about it this way: if a health plan can only make profits on up to 15% of your premium, and you have a $1000 premium per month, their profits are limited to $150 per month on that price. So then, what’s a major way health plans can grow their profits? By increasing your monthly premiums! If they boost your premium by 10% to $1100, they can now profit $165 per month. This means health plans are now incentivized to make your prices go up, not go down.”Did you know that the United States government limits the amount of profit health insurance plans can receive from your premiums? That sounds great in theory, but think about it this way: if a health plan can only make profits on up to 15% of your premium, and you have a $1000 premium per month, their profits are limited to $150 per month on that price. So then, what’s a major way health plans can grow their profits? By increasing your monthly premiums! If they boost your premium by 10% to $1100, they can now profit $165 per month. This means health plans are now incentivized to make your prices go up, not go down.”
When we set out to create a new and different way for Americans to pay for healthcare, we had you and your best interest at the top of our minds.
Those minds have since been boggled by some of the crazy, dysfunctional things we’ve learned about health insurers along the way. Where we first thought it might be an uphill climb to help people like you imagine getting out of the health insurance system, now we realize it’s actually one of the biggest upsides we can offer you, our CrowdHealth Members.
That’s why there’s no shame or secrecy here about the fact that we aren’t health insurance, and therefore we can’t make the same “guarantees” insurers do.
Curious what we could possibly mean by these as “good things”? Read on!
