Quote:
Originally Posted by Wolf Larsen
If health insurance is such a worthless scam, then I would expect the insightful wealthy to avoid it as they would have the information to know it was a scam and the resources to not need it. I've never heard of any of them actually doing so. And my wealthy friends tend to insure things quite consistently. What is that so? They certainly have access to the necessary information.
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Executives tend to have access to better plans and services than do ordinary folks (You think Steve Ballmer has to talk to the same insurance call center drone as the low-level MS employees do? Nope.), and often times their employers will pick up the full cost of the coverage. They don't even have to worry about a co-pay. High value executives might also have coverage
mandated by the company's insurer. This is to protect their investment in the company. I can remember news accounts in the '80s about executives complaining because the insurance company was prohibiting them from doing "risky" things, like flying in small planes (since they're more likely to crash than commercial planes).
Simply put, wealthy people don't have the same experiences with insurance companies that poor folks do, because the insurance companies are more concerned about keeping the wealthy person's business than the poor person's.