Private insurance (for the average person) in general is dumb. We have a collective need to insure various things against disaster, and realistically the federal government shells out huge amounts for most disasters anyways (after the so called insurance companies go bankrupt).

So why the heck are we paying a premium for all of the overhead of the insurance companies?! It’s this massive inefficient system that doesn’t work, while the “government as insurance” system works great, and doesn’t require nearly as much overhead. There’s no room for private sector insurance to inovate, because there’s nothing to inovate on; IMO, the private insurance industry contributes nothing of value to society except jobs that it pays for by forcing everyone to engage with it.

The insurance industry in general is betting you’ll be fine, and you’re betting “maybe I won’t.” It’s extra bad for medicine because they stick their head even into the small stuff, not just “I need a 10,000 unexpected hospital bill covered.”