Insurance is a monstrosity? Even when entered into voluntarily? I'm dying to know what your rational there is. Pooling resources to prepare for catastrophic events erodes that Rugged Individualism that's so important in Anarchotopia?
Insurance is supposed to be a free market capitalistic voluntary buffering of risk based on an assessment of the insured element's potential for failure.
Medical insurance does not live up to that. Way too much entitlement, and people who are drains on the insurance pool never get into the insurance pool during their healthy years, because they HAVE no healthy years. So there's nothing to offset their unhealthy years except the assumption that lumping enough people like me into pools with people like the 275 pound diabetic I described above, will buffer the risk.
That diabetic is a guaranteed money loser even if you charged $1000 a month premiums, if evaluated under the same conditions as home owner's insurance, flood insurance, or car insurance. Guaranteed loss on investment.
But, find enough rubes to shovel into the same policy (or compel enough healthy people to get in the same policy), and you wind up charging a bunch of healthy people $500 a month for health insurance along with that diabetic. And the diabetic consumes $4000 a month in care for the rest of his life.
Medical insurance is just another form of "from those according to their ability, to those according to their need." There's no compelling the high risk 16 year old driver to get into a 1962 AMC Gremlin and liability-only insurance in the medical insurance world, due to cost. Instead, the 16 year old pays $100 a month for insurance in his new V8 muscle car and the 37 year old soccer mom also pays the same amount.
Economics are entirely divorced from medical insurance.
