Ponzi schemes, especially the insurance companies. They really are a Ponzi scheme.
Think about it, they promise you things asking for money, then when you need their services they decide where you go, how much they will pay (leaving the rest for you to pay as a deductible), then they turn around and increase your costs for their services, that they fight tooth and nail not to pay anything.
I argue insurance in and of itself is no ponzi scheme. Working together is the basis of all civilisation. Trying to make a business out of a social service however … that’s rife for abuse, yes.
Depends on how you define a Ponzi scheme. Personally I define it as pay us money in return for a service, then run with the money or come up with ways to deny that service, once again keeping the money or as much as possible by telling businesses how much they can charge for their services.
If I ran my own company, I would be damned if someone is going to dictate my prices to help their bottom line.
IMHO, that is what has caused health care cost to be untenable for someone who cannot afford health insurance or makes like $3 too much to qualify for the likes of Medicaid.
That’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears.
A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
Ponzi schemes, especially the insurance companies. They really are a Ponzi scheme.
Think about it, they promise you things asking for money, then when you need their services they decide where you go, how much they will pay (leaving the rest for you to pay as a deductible), then they turn around and increase your costs for their services, that they fight tooth and nail not to pay anything.
I argue insurance in and of itself is no ponzi scheme. Working together is the basis of all civilisation. Trying to make a business out of a social service however … that’s rife for abuse, yes.
Depends on how you define a Ponzi scheme. Personally I define it as pay us money in return for a service, then run with the money or come up with ways to deny that service, once again keeping the money or as much as possible by telling businesses how much they can charge for their services.
If I ran my own company, I would be damned if someone is going to dictate my prices to help their bottom line.
IMHO, that is what has caused health care cost to be untenable for someone who cannot afford health insurance or makes like $3 too much to qualify for the likes of Medicaid.
That’s not a Ponzi scheme. Sorry, but this misuse of the term really grinds my gears.
A Ponzi scheme is a specific scam promoted as an investment, but in reality the payouts made to early victims come from the incoming money paid by new investors.
Might as well be, the patron still gets screwed
Aka social security…