Do you have fan belt insurance? How about flat tire insurance?
There are two types of risk: expected and unexpected. To insure expected risk is stupid and expensive and amounts to insuring cash flow – or in other words an expensive prepaid loan provision bringing big bucks to the lender (insurer). This is simply a Cost Plus arrangement……………..”costs” paid in advance whether realized or not with a no-refund provision for a premium to be charged. This makes no sense at all……………..yet that is reality in American health care.
