A Quote by Victoria Coren Mitchell
I pay higher premiums because my speeding points spell 'recklessness' to the insurance company, but you can't imagine how risk-averse I am at the wheel. I only go over 30 at all because it's dangerous to drive too much slower than everyone else.
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The premise of insurance is to spread the risk. It's the premise of homeowner's insurance, of car insurance, and of health insurance. It's one reason why it's important to have insurance when you're healthy, so that when you get sick, you won't go sign up just when you get sick, because that increases the cost for everyone.
Here's where the insurance companies really fail us. They over-pay hospitals, specialists and drug companies and then raise premiums to cover the costs. Further, when they pay hospitals 115% of what it should cost to care for a patient, they are paying for inefficiency that can be dangerous.
Wal-Mart workers make just over $8 an hour, and they must pay more than a third of their health insurance premium if they choose to take the company's insurance. That means just about half of them don't choose to take the health insurance because they can't afford it.
If you think in terms of major losses, because losses loom much larger than gains - that's a very well-established finding - you tend to be very risk-averse. When you think in terms of wealth, you tend to be much less risk-averse.
In more than 500 instances, from the Gulf of Alaska to Bar Harbor, Maine, FEMA has remapped waterfront properties from the highest-risk flood zone, saving the owners as much as 97 percent on the premiums they pay into the financially strained National Flood Insurance Program.
One of the biggest reasons for higher medical costs is that somebody else is paying those costs, whether an insurance company or the government. What is the politicians' answer? To have more costs paid by insurance companies and the government. ... [H]aving someone else pay for medical care virtually guarantees that a lot more of it will be used. Nothing would lower costs more than having each patient pay those costs. And nothing is less likely to happen.
Random distributions are not good things, because people are risk-averse, and this risk adversely affects their welfare. If you get too much price uncertainty, all kinds of long-term, mutually beneficial contracts can't be entered into.
Any onset of increased investor caution elevates risk premiums and, as a consequence, lowers asset values and promotes the liquidation of the debt that supported higher asset prices, ... This is the reason that history has not dealt kindly with the aftermath of protracted periods of low risk premiums.
I've actually started to drive slower. I never want to see a news headline that reads, 'The Chinese Guy from 'Fast & Furious' Pulled Over for a Speeding Ticket.'
It's unwise to pay too much, but it's worse to pay too little. When you pay too much, you lose a little money - that's all. When you pay too little, you sometimes lose everything, because the thing you bought was incapable of doing the thing it was bought to do. The common law of business balance prohibits paying a little and getting a lot - it can't be done. If you deal with the lowest bidder, it is well to add something for the risk you run, and if you do that you will have enough to pay for something better.
In the richest country in the history of the world, this Obama economy has crushed the middle class. Family income has fallen by $4,000, but health insurance premiums are higher, food prices are higher, utility bills are higher, and gasoline prices have doubled. Today more Americans wake up in poverty than ever before.
The U.S. has a system that does have a poor cost-benefit ratio. I mean, 40 million people lack insurance; another 30 million or so are underinsured. The people who are insured do have to worry whether they are able to pay the bills. People become bankrupt because they cannot pay the medical bills, and there are vast differences in the quality of care depending on how much you are prepared and able to pay. I think the system is not working well.
This legislation provides Medicaid eligibility to evacuees and residents in (Federal Emergency Management Agency) designated disaster counties, .. It also helps pay private health insurance premiums for those at risk for losing their coverage.
I consider myself a person like everyone else, and I take my time writing my records because I feel like it captures more of who I am. You have a much greater chance of hitting on themes and points...that could play into someone else's life in a larger way.
When this awareness grows, dreaming stops, by and by. When this awareness grows, the wheel moves slower and slower, because there is no point. You never move, so what is the point of travelling the whole earth? You remain the same; then desires slow down. One day it happens: the wheel is as silent, as unmoving as the hub. That is the point when enlightenment happens.
If we overregulate, over control, impose too many burdens and too much bureaucracy - or if we do it across the board, without taking into account the differences among businesses and their relative impact on society - that could make people risk-averse and dampen the entrepreneurial spirit.
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