What is the purpose of insurance companies in our modern times? To me it seems like people pay insurance companies money, insurance companies keep some of that money and give the rest to people that need it that are also paying the insurance company.
To me it seems like a method to take money from those that are well off and give it to those that are not well off in exchange for the promise that if a person that is well off gets in trouble, they will be helped too.
Why should people pay an insurance company if they don't think they will take more money from it than they paid into it? Wouldn't it make more sense for people that are well off to just set aside a fund for a rainy day than to pay a company money that they will hopefully never see again?
With the current views that the republican party has of the purpose of government, how can they support the idea of an insurance company?
On the other hand, if you think that the feeling of security that an insurance company gives is important, why shouldn't the general public act as an insurance company? If a company is in trouble, but has been paying the general public its insurance tax, then the public would help the company in their time of need.