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Short answer about benefitting policy holders vs share holders is they’re not. They won’t.
The other part of this is why they deny claims? Short answer is the loss ratio (diving claims paid plus adjustment expenses by the total amount of premiums earned) that they report on during earnings calls.
It’s apparently one of the most important things to pay attention to. The lower that number, the better! Higher means it freaks wall street out and stocks lose money.
Learned about the loss ratio from Vox’s Today Explained podcast.
Yeah, I said that knowing this was true, and I guess props on them for not lying their way out of that part… 🙄
The second half of what you said is why these companies, that literally have peoples health and wellbeing in their hands, should NOT be for-profit companies. They are actually profiting, and celebrating their record profits, off of hurting people. It’s insane.
Thanks for the podcast share, I’ll check it out.