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GoFundMe CEO: One-Third of Site's Donations Are to Cover Medical Costs (time.com)

submitted 2 weeks ago by BrikoX@lemmy.zip to c/usa@midwest.social

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According to a new report from Gallup, uninsured rates in the U.S. have reached a four-year high

Older article from 2019, but kind of relevant today.

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[–] Nougat@fedia.io 66 points 2 weeks ago (3 children)

It's crowdfunded insurance. Because actual insurance fails.

[–] clutchtwopointzero@lemmy.world 10 points 2 weeks ago (1 children)

Whi is the failure of actual insurance not seen as criminal contractual fraud?

[–] gravitas_deficiency@sh.itjust.works 7 points 1 week ago* (last edited 1 week ago)

Because they write the contracts on the policies VERY carefully such that it’s NOT a breach of contract. There are armies of lawyers whose job it is to make that a thing. It’s 100% legal and above board.

Also, lobbying.

Also also, regulatory capture.

Also also also, profit über alles 🫡

[–] halcyoncmdr@lemmy.world 8 points 1 week ago

Actual insurance is crowdfunded as well depending on how you look at it. The premiums provide the funds for claim payment, the profit is pulled from that by denying as many claims as possible.

[–] Justas@sh.itjust.works 2 points 1 week ago

Actual insurance could work if it was handled by a nonprofit. Or, you know, the government.