Reply #1: For profit insurance always has been and always will be [View All]

[pokercat999]

A SCAM!

Look at what the federal government covers, Medicare, health insurance for those over 65, flood insurance in known flood areas. Why, because they are the least profitable and most likely of groups to cause claims and suffer losses. If you add a profit to the already high cost of claims for these risks the people could not afford to insure. It serves the banks and mortgage companies to have flood insurance in known flood zones and it serves the insurance companies to remove those most likely to need service (claims) from their roles. Again your corporate controlled government at work.

I have no problem with the government being the insurer of first choice or the only choice but allowing them to only have the very riskiest part of the market is simply corporate welfare. Government should issue necessary insurance of every kind, health, auto and home at fair and reasonable rates and subsidized by income level when necessary.