WHAT is the Insurance Industry For?

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	WHAT is the Insurance Industry For?

CulturalEngineer

6-5-2009 9:47 AM

4905 views

tags:

economics, politics, insurance, medical

CulturalEngineer says:

Lincoln was right! You can't fool "All of the People, All of the Time!"... but apparently you can fool enough!

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/0af9fc44-b386-4288-8b88-6a10e505f2c0/4AE33A01-DE4C-49BC-B753-3D3CCFFDFFC3/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/" href="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/" style="font-size: 11px;">www.theseminal.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/"><H1><A title="Permanent Link to Medical Bankruptcy - Time to update that statistic" rel="bookmark" href="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/">Medical Bankruptcy - Time to update that statistic</A></H1></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/"><P>Medical bills are behind more than 60 percent of U.S. personal bankruptcies, U.S. researchers reported on Thursday in a report they said demonstrates that healthcare reform is on the wrong track.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/"><P>More than 75 percent of these bankrupt families had health insurance but still were overwhelmed by their medical debts, the team at Harvard Law School, Harvard Medical School and Ohio University reported in the American Journal of Medicine.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/"><P>The most striking part about this is the last paragraph - 75% of these people have health insurance.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theseminal.com/2009/06/04/medical-bankruptcy-time-to-update-that-statistic/"><P>This basically proves that private health insurance in America is little more than a scam. Isn’t the whole point of insurance to avoid personal ruin by large medical costs by paying bit by bit over time? Clearly, if most of the people going bankrupt due to medical costs are insured, private insurance is not performing its core purpose.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/4AE33A01-DE4C-49BC-B753-3D3CCFFDFFC3/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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