The insurance plan often has re-insurance or stop-loss coverage, meaning that if the insurance pool is at risk of actually losing money, the insurance company has insurance against such a loss. In reality, the insurance plan is not gambling anything.
Reminding my sister of this was one of the only things that shut her up when we were arguing. While fairly liberal, she works for a big pharma company and doesn’t support universal healthcare,. She was very early to jump on the coronavirus panic.
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