I was watching TV (something I rarely do) this weekend, and I noticed a fair number of car insurance commercials from various companies. They were touting their high level of service and low prices, and urging consumers to investigate and switch to their company.
How come this doesn't appear to happen with health insurance? Is it because employers, rather than the actual people insured, shop for insurance in many cases? Is it because auto insurers are allowed to compete more freely across state borders? Are the basic expectations different when it comes to health insurance? Or, does competition already exist in the health insurance industry but the product is so much more expensive no matter what?
Serious answers appreciated. Thanks.
2007-10-22 01:31:03 · 11 answers · asked by American citizen and taxpayer 7 in Politics & Government ➔ Other - Politics & Government
Many good answers. Thanks!
2007-10-22 03:02:03 · update #1
They do compete on price. However, there are quite a few factors that artificially and fiscally drive the price up. Governmental mandates and a lot of "bells and whistles" help drive the prices up. In fact, if employers were to drop prescription cards, you would be shocked at what kind of impact that alone would have on prices.
2007-10-22 01:34:53 · answer #1 · answered by Anonymous · 1⤊ 0⤋
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RE Why don't health insurance companies compete on price like car insurance companies?
I was watching TV (something I rarely do) this weekend, and I noticed a fair number of car insurance commercials from various companies. They were touting their high level of service and low prices, and urging consumers to investigate and switch to their company.
How come this doesn't appear to happen with health insurance? Is it because employers, rather than the actual people insured, shop for insurance in many cases? Is it because auto insurers are allowed to compete more freely across state borders? Are the basic expectations different when it comes to health insurance? Or, does competition already exist in the health insurance industry but the product is so much more expensive no matter what?
Serious answers appreciated. Thanks.
2014-08-27 00:56:59 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I might suggest one to try this web site where you can get quotes from the best companies: http://insuranceforcheap.info/index.html?src=2YAkale5re1yE
RE :Why don't health insurance companies compete on price like car insurance companies?
I was watching TV (something I rarely do) this weekend, and I noticed a fair number of car insurance commercials from various companies. They were touting their high level of service and low prices, and urging consumers to investigate and switch to their company.
How come this doesn't appear to happen with health insurance? Is it because employers, rather than the actual people insured, shop for insurance in many cases? Is it because auto insurers are allowed to compete more freely across state borders? Are the basic expectations different when it comes to health insurance? Or, does competition already exist in the health insurance industry but the product is so much more expensive no matter what?
Serious answers appreciated. Thanks.
Update: Many good answers. Thanks!
1 following 11 answers
2016-09-06 09:42:29 · answer #3 · answered by Lynn 6 · 0⤊ 0⤋
I posted this last night on myspace after getting fed up with all these questions mirroring the above here on yahoo! answers... It would be nice if things worked this way. But what liberals need to realize is that things don't and won't work that way. First, government health care will bankrupt this country. Or, further bankrupt this country..the last few presidents, Obama and his stimulus plan did not help one bit, have pretty much ****** us. According to the Congressional Budget Office (CBO), the plan will cost 1 trillion dollars between 2010 and 2019. However, this is before taking Medicaid into account. It also, doesn't take into account those who will lose their insurance and be forced into the system, raising the costs further. How do you think they will pay for all this? Taxes. But not just taxes from your own pocket, by taxing private insurance as well. Once they start taxing the insurance companies even higher for the services they pay for, the premiums will go up. People will be unable to stay with the private insurance companies. Employers will no longer be able to afford to cover their employees. The CBO's report says that a MINIMUM of 15 million people would lose their employer covered health care and coverages from other sources would fall by about 8 million. So, basically, even if the plan was able to cover 39 of the 50 million people currently uninsured, which is what the plan claims, it would create another 23 million uninsured, plus the 11 million not covered by the plan. These people would be forced to either suffer without any coverage or accept government health care..great option. This is all in the short run mind you. Up until 2019. There's no talk of what awaits us later... What the plan fails to mention, is that approximately 9 million of the countries uninsured are illegal immigrants. Another big group, young people who feel they do not need to purchase insurance, and CHOOSE not to. Another group, people making enough to cover their own expenses..all these people, the illegals, those who CHOOSE to not buy their own, and those who can afford not to buy their own, will all be coverable. Can someone please tell me how this makes any sense. How can we ruin our countries health care system for the benefit of less than 15 percent of the population? Some of which don't belong here and some of which CHOOSE not to be covered.
2016-05-24 03:33:35 · answer #4 · answered by ? 3 · 0⤊ 0⤋
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2014-04-21 21:51:00 · answer #5 · answered by Anonymous · 3⤊ 0⤋
Health insurance companies do compete on price. They cannot advertise it because so many personal factors are involved in setting the rates. The same applies to auto or homeowners insurance.
Anyone selling goods of any kind can advertise price. It does not change, depending on who is buying.
2007-10-22 01:40:33 · answer #6 · answered by regerugged 7 · 0⤊ 0⤋
For the most part car insurance is an individual choice whereas health insurance is usually a group purchase where you are not controlling the issue.
2007-10-22 01:39:38 · answer #7 · answered by Anonymous · 0⤊ 0⤋
I purchase my own health insurance and, at least in my state, there is basically no choice...I can't even purchase certain coverage (like prescription co-pay) because it is not offered unless you are in a group plan. I can get a difference of about $20 a month (out of $800 a month) by "shopping".
2007-10-22 01:37:14 · answer #8 · answered by Anonymous · 0⤊ 0⤋
The Insurance Industry has contributed so much money to the 'politicians campaign war chests' (READ 'BRIBES'), that they are exempt from the 'monopoly laws, and therefore charge as much as they can get away with, and also, this means that the 'executives of the individual insurance company's receive MILLIONS of dollars, per year salary, AND 10'S OF MILLIONS OF DOLLARS - ANNUALLY- ADDITIONAL BONUSES FOR 'SCREWING THE CLIENTS' !!!!!!!!!
2007-10-22 05:16:25 · answer #9 · answered by Anonymous · 0⤊ 0⤋
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2014-12-15 01:17:16 · answer #10 · answered by ? 1 · 0⤊ 0⤋