Another reason that "For Profit" insurance companies should be abolished.
They should be replaced by MUTUAL insurance companies that are owned by policyholders, not stockholders. They should be regulated to return at least 95% of all income as claims payments, and spend no more than $1,000,000 for the CEO, $500,000 for any VP, and so forth. No golden parachutes. No bonuses. Just honest business for the benefit of the policyholders.
Also, these companies should be forbidden to ask for health information from applicants and should be required to charge all persons the same premiums regardless of state of health.
David F Mayer