Thanks for dropping the term "moral hazard". I want everyone who reads this to note it and USE it in discussion while educating people - it's a perfect weapon.
While not specifically an insurance term (economics in general), it ABSOLUTELY applies to the actions of these care providers.
It boils down to the fact an entity will act more recklessly when it knows the burdens of its failure are being subsidized or, in the case of COVID, incentivized.
I forget the exact numbers, and they would be helpful ($48,000 per case?) for the argument, but even without those numbers I have a feeling most people will think twice about "the narrative" if we bring this fact up in conversation. Everyone's been screwed by "moral hazard" at some time in their life, by someone. It's a universal talking point.
Excellent contribution. I'm so excited to start slinging this around. 😁
I read in the beginning of this that hospitals get $30,000 for every positive case that they report, and $13,000 for every patient they put on a ventilator. The ventilators kill people with lung inflammation (malpractice), and they add to the covid deaths.
Well thanks for the backup, fren. I only remember that term as it relates to suicide not being covered for life insurance, as it creates a “moral hazard.”
The problem with this scam is there is a few layers. The moral hazard is there for the hospital, always wanting the 48k, but where does that money come from ? The health insurers or .gov ? If it comes from the health insurers, this is one big circle jerk and everyone is making money off this except us. Makes sense health insurers keep this scamdenic going, but they don’t want their customers dead.
Thanks for dropping the term "moral hazard". I want everyone who reads this to note it and USE it in discussion while educating people - it's a perfect weapon.
While not specifically an insurance term (economics in general), it ABSOLUTELY applies to the actions of these care providers.
It boils down to the fact an entity will act more recklessly when it knows the burdens of its failure are being subsidized or, in the case of COVID, incentivized.
I forget the exact numbers, and they would be helpful ($48,000 per case?) for the argument, but even without those numbers I have a feeling most people will think twice about "the narrative" if we bring this fact up in conversation. Everyone's been screwed by "moral hazard" at some time in their life, by someone. It's a universal talking point.
Excellent contribution. I'm so excited to start slinging this around. 😁
I read in the beginning of this that hospitals get $30,000 for every positive case that they report, and $13,000 for every patient they put on a ventilator. The ventilators kill people with lung inflammation (malpractice), and they add to the covid deaths.
Well thanks for the backup, fren. I only remember that term as it relates to suicide not being covered for life insurance, as it creates a “moral hazard.”
The problem with this scam is there is a few layers. The moral hazard is there for the hospital, always wanting the 48k, but where does that money come from ? The health insurers or .gov ? If it comes from the health insurers, this is one big circle jerk and everyone is making money off this except us. Makes sense health insurers keep this scamdenic going, but they don’t want their customers dead.