Muh Muh Muh My Corona (virus)

Certainly. It's their money funding the plan. It's one of the advantages they have over fully-funded, which, as noted before, is required to pay out 80/85% of the money they take in. But, as the link shows, there's also a lot of potential disadvantages.

 

Any rationale for why self-insured are regulated differently? Or why there's a rule to begin with?

If it's the latter, then it's because political actors do stupid shit, and are rewarded for it, all the time.

If it's the former, I would assume it's some combination of: 1) the recognition that the accounting for what's administration/overhead in an outsourced administration scenario would be a nightmare; 2) many of the self-insured organizations are state governments or agencies (my employer, a big state university system, self-insures); or 3) the self-insured were able to get the exemption written into the law(s).

Some might, but not all ... not even most. Delta (or some other big self-insured company) is no more vulnerable to "high losses due to extraordinary claims" than any big insurer.

 

We certainly have spent more time on this site exploring the “morality” of insurance today than the insurance industry has in the last 100 years.

 

If you self insure and you have more claims than expected, you are going to lose money than if you didn’t self insure.

If you self insure and have fewer claims, your insurance budget will not be maxed out.

I’m trying to understand how you don’t see that as a financial risk.

 

Mazel tov, @Woody Long!

@dixiehack, sorry to hear about your MIL. The number of breakout cases is probably higher than we've been told and I am sure we need to continue to be cautious, but the mitigation the vaccine offers outweighs it for me.

The shrieking yahoos wear me out. Still not wishing they'd get COVID because they will take up clinical space other people need. and possibly spread it to those who cannot protect themselves right now.

 

These inmates are going to get PAID!

 

From the perspective of the client that chose to be self-insured, they did not expect to lose money.

I guess you are looking at it from the insurance company standpoint, where I would look at it from local government, who probably employ about 5-7% of all the citizens of the locality. The locality does not have room in their budget for a bad insurance year. Large businesses I guess would take it out of profits so stock prices drop. Neither is a good scenario.

 

Fuck me. Shouldn't have jinxed it. We had our first student report a positive test. Waiting to see the shit storm that follows.

 

If you’re in a full ICU in Louisiana on a breathing machine and a hurricane knocks out power, do your freedoms keep the machine powered?