Source: Forbes
One of the biggest problems plaguing the U.S. health care system is the fact that “insurers” have gotten into the business of managing our medical care, rather than insuring us against risk. Without correcting this anomaly, most measures intended to fix the system are doomed to fail, if not make things worse. The Supreme Court’s pending decision on the Patient Protection and Affordable Care Act (Obamacare) won’t change that.
Casualty insurance – homeowners’ and auto insurance, for example – is different. In the casualty market the product being bought and sold is real insurance, providing protection against unanticipated catastrophic loss.
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