Comment on Why is it apparently cool and fine for insurance companies to spend countless billions, trillions of our money constantly buying ad time?

Reddfugee42@lemmy.world ⁨10⁩ ⁨months⁩ ago

• macrocephalic@lemmy.world ⁨10⁩ ⁨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.

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  • Adalast@lemmy.world ⁨10⁩ ⁨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.

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  • Ullallulloo@civilloquy.com ⁨10⁩ ⁨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.

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    • T00l_shed@lemmy.world ⁨10⁩ ⁨months⁩ ago

      Really? Do you have a source for that?

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      • Ullallulloo@civilloquy.com ⁨10⁩ ⁨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

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    • BallsInTheShredder@lemmy.world ⁨10⁩ ⁨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?

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      • Ullallulloo@civilloquy.com ⁨10⁩ ⁨months⁩ ago

        Yeah, obviously employees have to be paid like with anywhere.

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