The concept of insurance is very simple, have a large group of people pool their investment in protecting against a risk, in the knowledge that the costs incurred when a risk turns into an event ,while great, will be manageable since the chance of many people being effected by similar events in low enough.
Everyone pays in enough to cover the costs of these who suffer an “event”.
Insurance works best when the group of people involved is very large. If everyone is involved then it works best of all. Insurance is about playing the odds, everyone joins in and all are protected. It’s the most social of all systems possible.
That’s how life insurance works, that’s how car insurance works, it is how property insurance works and yes, and it’s how health insurance works.
There is absolutely no socialist concept that is more socialist than insurance. In fact the most left socialist countries in the world today are less socialist than insurance. Karl Marx and Friedrich Engels were not as socialist as insurance (but they were naïve enough to think they were of course).
And in the same way that democracy is a flawed process of government, just less flawed than every other choice, so it is with insurance. No one likes paying insurance, but of all the possible choices, it’s the least flawed model.
And the issue really comes down to our ability to deal with a bad situation. If your spouse dies, or you’re sick, or you have a car crash or your house burns down, then you are at that moment in the least effective position to deal with the issue. Insurance is partly about mitigating a risk and a lot about helping those who are not in a position to help themselves.
No one likes paying for insurance, but no one has ever found a more effective model.
Whenever in history there has been insurance society has thrived (greeks, rome etc), and whenever there has not been insurance society has floundered (dark ages). It’s that simple, when people work together for the common good, everyone wins.
I’m sick of crybabies wailing about having to pay for other peoples insurance. If people are left homeless, sick, bereft of the ability to be a valuable part of society, then everyone loses.
But the other side of insurance is fraud and greed. The only way insurance works for everyone is if the costs are controlled as carefully as possible. Greedy bastards living on the backs of insurance, gouging prices and getting kickbacks from suppliers, and lying about services destroys society just as easily as having no insurance.
Simple rules for a good society:
1- Everyone pays for insurance.
2- If you make a fraudulent claim or you cheat on the costs the punishment must be draconian. I’m talking hung by your nut sack draconian.
Insurance is not nice, it’s just an essential part of how our society runs.