IMO, all insurance is a huge racket...
Ben And I may not agree on much. But this is dead on target. Insurance was a racket. Insurance convinced Government to require it through lobbying. Government loved the idea well enough to want in on it.
Ever heard the old Gangsters? "What if something were to happen",, "Why would anything happen", "well if you pay us we will make sure it doesn't happen, or we will make it right!"
Before there was Insurance Doctors, medicine and Healthcare was based on real market prices,, Affordable prices.
On the other hand the huge influx of money helped fund many of our new cures and procedures. Wonder what the future will hold?
Ever heard of "No Fault States" - If you did nothing wrong and a person was driving 100 miles an hour down the wrong side of the street and hit you. It's still partly your fault, because you were out driving.