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A comment on A Petabyte of Health Insurance Prices Per Month – Why is there so much data?. Parent comment

Re:A Petabyte of Health Insurance Prices Per Month – Why is ... by lotsofpulp on Tuesday July 11, 2023 @04:25PM (#36686762)
In the US, federal law requires the insurance company to offer any applicant insurance coverage and pay for necessary healthcare (after accounting for deductible/out of pocket maximums).

https://www.healthcare.gov/how-plans-set-your-premiums

>Five factors can affect a plan’s monthly premium: location, age, tobacco use, plan category, and whether the plan covers dependents.

> FYI Your health, medical history, or gender can’t affect your premium

https://www.healthcare.gov/appeal-insurance-company-decision...

[ Parent | on HN ]
Re:A Petabyte of Health Insurance Prices Per Month – Why is ... by talldatethrow on Tuesday July 11, 2023 @04:28PM (#36686794)
I understand the law says so. My point is this makes no sense as an "insurance". It's basically a service plan now.
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Re:A Petabyte of Health Insurance Prices Per Month – Why is ... by lotsofpulp on Tuesday July 11, 2023 @04:40PM (#36686917)
Yes, health insurance as expected by people has never made sense as "insurance".

Once an event goes from unlikely to likely, buying insurance for it turns into simply prepaying an amortized amount for future expenses. Not dissimilar to paying taxes for road maintenance.

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