Reddfugee42@lemmy.world 11 months ago
Their primary goal is to make profit for investors. They kind of also sometimes help people.
Reddfugee42@lemmy.world 11 months ago
Their primary goal is to make profit for investors. They kind of also sometimes help people.
macrocephalic@lemmy.world 11 months ago
They kind of also pay out on the services you pay them for, it’s not helping, it’s just an obligation they haven’t managed to dodge.
It’s almost like there should be a not for profit option, perhaps if there were some large group of people who worked for everyone, and we’re controlled by some sort of elected governing body.
Adalast@lemmy.world 11 months ago
I have had this fantasy. All health insurers be required to be 501©29. The non-profit definition for health insurers under the ACA.
Ullallulloo@civilloquy.com 11 months ago
A lot of insurance companies—arguably most of the ones used—are not for profit: American Family, COUNTRY, Liberty Mutual, Northwestern Mutual, any other company with “mutual” in the name, USAA, Farmers, State Farm, Progressive, etc.
T00l_shed@lemmy.world 11 months ago
Really? Do you have a source for that?
Ullallulloo@civilloquy.com 11 months ago
For which ones? Most are mutual insurance companies, where any profit has to legally be paid back to the customers.
www.investopedia.com/terms/m/mutualcompany.asp
BallsInTheShredder@lemmy.world 11 months ago
Hmm… part of me is not convinced that those companies aren’t benefitting in some way… I mean, the employees do have to be paid don’t they? What about the CEO? Is it just a passion project for them?
Ullallulloo@civilloquy.com 11 months ago
Yeah, obviously employees have to be paid like with anywhere.