Car insurance is relatively simple. I shop around, telling them how much coverage I want. They request my driving history, and give me a quote. At any time, I can shop around and change insurance policies without any problems. Once it’s time to collect payment, it’s a relatively simple matter. What makes health insurance so difficult, controlling, unreliable, and expensive? For example, with health insurance:
-
Can only shop during a specific enrollment period
-
Policies are so complex, the vast majority of the population can’t understand them
-
It’s commonly provided in part by the employer because buying a policy otherwise is prohibitively expensive
-
Insurance companies are notorious for denying payments
but my understanding is that’s mostly because they don’t fully rely on the market, the way the US does. The market’s priority is not the wellbeing of people, which is why government regulation is important for affordable healthcare.