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Why isn't health insurance sold like car insurance?

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Health and auto insurance put the burden on you, but that's where the similarity ends. read more

So, why can we not buy health insurance like car insurance. One reason is what I said above i.e. non random selection of more risky individuals if its let to individuals to buy health insurance. read more

This makes it more expensive for insured people to keep their health coverage, while also making it more expensive for uninsured people to purchase coverage. Insurance is intended to be a pooling of people's money to pay for large, unexpected expenses – not for every expense that is incurred. read more

Health Insurance is an indemnity provided by the insurer to cover for your medical expenses.However, health insurance can also be bought off the shelf, both online and offline, like car insurance. read more

For example, 38% of companies planned to charge higher premiums or deductibles in 2012 to employees who smoked, had high cholesterol levels, did not actively treat a chronic condition like diabetes or high blood pressure or failed on other health measures, according to Towers Watson — the same way people with speeding tickets pay higher auto insurance rates to compensate the plan for their greater risk of car damage. read more

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