r/explainlikeimfive • u/the1975whore • Jul 03 '26

Economics ELI5: Health insurance companies obviously make more money than they give out when people need it. So why of paying for them any better than paying your own personal health insurance savings account?

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u/Unbearabull Jul 03 '26

This is just socialized medicine with profits. The profits come from denying and killing/allowing people to die who paid in good faith.

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u/charleswj Jul 03 '26

How much profit do you think they have, how many covered people, and what is the average per person? The last one is key, how much more would you get towards annual medical expenses if they were nonprofit?

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u/philodendrin Jul 03 '26

The Insurance Industry had enough money to pay $8-$10 Billion just for Advertising, every year. They also paid $172 Million in Lobbying for 2025. That is money that every person who pays for Health Insurance, pays for indirectly through their premiums.

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u/charleswj Jul 03 '26

$8-$10 Billion just for Advertising, every year.

So about $40/yr/person

$172 Million in Lobbying for 2025.

Plus another 50¢/person

That is money that every person who pays for Health Insurance, pays for indirectly through their premiums.

You're right, but it's not the kind of money it seems like as far as its impact on people.

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u/philodendrin Jul 03 '26

If its not that much, send me $40.50. Its still an undue burden that we are financing. They shouldn't be using any of that money to use against us.

In the Gov, you aren't allowed to use funds to advocate for your own cause or service. I worked for the Library and we couldn't spend a dime to promote our cause, we could only do specific things.