Let's keep our focus on how many cents of each premium dollar go to pay actual benefits to people who suffered losses. Let's require that a projection of this number be issued when the law is passed and that it be updated annually based on real-life experience. It is a benchmark that will help us know whether we are getting better insurance or just shoddy merchandise. That is too high. But we can hardly argue that's the way it should be when our big medical insurer, HMSA, manages to hold overhead to around 8 percent.
Health insurance is no-fault.
We are covered to the extent of our policies no matter how we came to need medical care. It's pretty much the same with fire insurance, short of deliberate arson. Carelessness doesn't void being covered. If that's the case many car owners will want to supplement their coverage beyond what the state mandates. They may end up paying out the same as ever.