In America, health insurance is a privilege of the wealthy. Wether it be personal wealth or that of the large company for which you work, it's all about money. There are state and federal insurance plans, like medicare, but those are a joke to anyone needing surgery or prescription medication. There is a need for quality universal healthcare in the US, but until that happens...
My idea is to create a "private" company which is open to the public that employs "workers" who, because of the large number of "workers", pay very little for health insurance. I'm sure this is somehow illegal, and I'd appreciate feedback as to why this idea won't work or how it can be made to work around current business laws, which I know nothing about.
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Like you said "it's all about money". If you want to provide a high end insurance company that funds all types of surgery and prescription meds, it costs money. And if you're targetting lower income families they can't afford it. That's why government gets involved.
You can't just say that the service will be available to a large number of people therefore the low cost of the insurace won't matter because the volume of members will increase the total pool of funds. If you have a large number of members then you'll have a large number of claims.