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How Does Insurance Work? Video

Its about economy of scale. When you sign up for healthcare coverage, you join a group of other people to combine your healthcare purchasing power. Your insurer covers the whole group, rather than individuals, so everyone shares the cost of staying healthy.-Stay Smart Stay Healthy

Stay Smart Stay Healthy was created by Edward Batchelor at Humana Inc. as a new-media venture designed to deliver guidance, and to support awareness and understanding of the healthcare industry.

His goal was simple: to educate consumers on the healthcare system by removing the usual complexities and replacing them with an informative and engaging series of videos.

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Comments on "How Does Insurance Work?"

In theory this is ...
In theory this is true. However, Insurance companies are "for profit" companies, naturally,, and therefore need? to make money on your premiums. They do this by investing the money you pay into your premiums, just like banks do. The burden of your healthcare is not borne out by your "group", but by the profits the company makes on your policy; to be more precise, the profits made on your group's policies. This is why there is an incentive to deny you your benefits.

Jesus, Gary sucks?
Jesus, Gary sucks?

whats funny...if ...
whats funny...if you would rather have social health care. insurance companies would only get fatter, richer, and have more obscene? profits. Who do you think is helping write the legislation? lol, don't be stupid man, big companies are here to stay and thats how it is.

Nice ad, but what ...
Nice ad, but what if one of those group members isn't careless and never has to draw on insurance? What then? Their money just goes down the toilet. It's impossible for each group member? to benefit equally from this money pool; why don't people direct their hard earned capital elsewhere and just be accountable for themselves? Or, if they still wish to adhere to this "safety in numbers" idea, they could form their OWN insurance group. No middleman needed.

great simple an ...
great simple an effective vid. Of course the amount you pay for your cover vaires by insurer and this isn't addressed. You really need to get quotes from multiple providers to make sure you're getting the best deal around. Sites like cheapest-insurance. info can? help a lot with this

I think in Gary's ...
I think in Gary's case, it wouldn't be health insurance, but more like life insurance. I? still don't understand insurance, especially health and auto. I mean most times, you're denied coverage anyway, and that's even if you pay your premiums.

You can NEVER make ...
You can NEVER make a complainer happy. No matter what "they"? will always see the glass Half Empty and complain about it. This video is well put together simply as an education...Period. STOP whining about everything.

It looks like this ...
It looks like this screed was created by an insurance company. They conveniently left out their obscene profits, fat executives with their perks and their armies? of claim deniers...

HUGE problem! Only ...
HUGE problem! Only explains the risk model - poorly. Health insurance has a fiduciary responsibility to the SHARE-holder not the POLICY-holder. This means that companies are required by law to increase the value of a share over the "public good" Adhering to legality avoiding morality. Save your money - spend it instead on good food,? use that gym membership/equipment that you bought, get some sleep, turn off the TV, and enjoying your family. That is the best risk mitigation!

what? why? is it $ ...
what? why? is it $0.00?

America should just ...
America should just become socialist. So much easier?

or maybe it's an ...
or maybe it's an attempt at explaining how insurance works, which few people understand. by your comment i doubt you do either. now that i watched it it's actually a pretty poor explanation though, like the one? i would give 5th graders.

socialism isn't ...
socialism isn't voluntary is it? and insurance is risk? mitigation.

why would someone ...
why would someone cover you for pre-existing? conditions? if you get in a car accident do you then get car insurance?

I? agree with it ...
I? agree with it very much as I am a good Example....My Insurance Company pay all my BiLL.....

i? hate living in ...
i? hate living in the US

Excellent info - ...
Excellent info - thought your use? of graphic effective - well done!

this is awesome.?
this is awesome.?

hi: new zealand ...
hi: new zealand costs: broken leg and pregnancy=$0.00. wake up america?

When? you sign up ...
When? you sign up for coverage, you join a group of people who help the insurance company lobby in Washington!

This is the way it ...
This is the way it works? Not so fast! Who pays the insurance company's employees? Why doesn't BlueCross/BlueShield pay taxes? How does BlueCross afford to spend $2.3 million on lobbying? My money goes to help my neigbors? Not so! Only a portion goes to helping my neighbors, and another portion? goes to paying salaries and lobbyists.

thank you?
thank you?

yup clearly this ...
yup clearly this video leaves? out people with pre-existing conditions and the fact the insurance company is trying to make a huge profit . Im british and for some things trying to make a profits fine but not for a healthcare system

I Like it!!!!?
I Like it!!!!?

I? Like It!!!!!
I? Like It!!!!!

This looks like a ...
This looks like a piece of viral marketing for the? US health insurance industry.

This is viral ...
This is viral marketing put? out by the health insurance companies.

its called taxes,? ...
its called taxes,? you pay taxes to have fires put out, and to dial 911. without taxes there is no money to pay these people... its not free

Combined consumer ...
Combined consumer purchasing power is the problem, not the solution. If the medical industry were to charge the individual patient, they would not be able to get away with charging? so much. Insurance is an unnecessary step in a medical payment. Anything paid for by insurance has astronomical prices, not the other way around. Don't believe me? Who insures the insurance companies then?

staysamrt u r a? ...
staysamrt u r a? wimp



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