How Does Insurance Work?

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.

Category:

Education

Tags:

• Healthcare
• Coverage
• Health
• Insurance
• insurer
• Stay
• Smart
• Healthy
• Humana
• Edward Batchelor
• Ed
• Batchelor

[LeoHareMusic]

So if I understand this right, this means because I am a vegetarian who works out and takes care of myself but still pays health insurance premiums at work, I am paying for you fat bastards who smoke and eat anything and never exercise?

[BurnsideStudios08]

This is not the American model. Insurance companies get majority of there money from the healthy and when a healthy person gets sick they get dropped.

[v1switch]

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.

[Sleeves04]

Jesus, Gary sucks

[Poonard]

@chetdude 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.

[Hippodameia]

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.

[MrMortgage1]

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

[devonneescobedogkck]

Dosn`t matter if you're looking for a cheaper rate or a different coverage plan altogether, we can help

[banstaman]

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.

[wongagency]

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.

[chetdude]

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...

[drchrishansen]

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!