PUBLIC VIEWPOINT: Universal Health Insurance A Must
Posted: December 8, 2009 at 3:12 a.m.
Health insurance is based upon a simple premise. For a given individual, the statistical probability that you will file a claim in a given year is multiplied by the average claim for an individual such as yourself. From the view of the health insurance company, this is a cost. The insurance company can expect to earn the total of your premiums. So, the expected earnings of a given insurance company can be expressed as the total of your annual premiums times the probability that you will not file a claim minus the expected claim times the probability of you filing a claim.
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Opinion, Pages 5 on 12/08/2009
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