Sounds better than some of the other stuff we’ve heard.
Mutual insurance companies are already owned by the policy holders. They are basically a co-op. For example in Ohio Medical Mutual is the largest and oldest medical insurance company in Ohio, They are a MUTUAL company, a cooperative form of insurance.
Here is the classic definition of Mutual Insurance:
Mutual insurance is a type of insurance where those protected by the insurance (policyholders) also have certain “ownership” rights in the organization. These “ownership” rights typically consist of the ability to elect the management of the organization and to participate in a distribution of any net assets or surplus should the organization cease doing business. Historically, insurance began in the USA through a mutual (or cooperative) structure.
The problem with most insurance is that it is not insurance, it is prepaid medical coverage. Most companies spend $600- $1,200 monthly on health insurance policies for family coverage per employee. The insured then has an incentive to spend that kind of money every year in health care. Most people pay a copay of $5 - $25 to see a health care provider. This small payment entices people to go to the Dr. for ,more trivial things.
Also most states MANDATE that insurance companies package all types of coverage that many people do not want. including Chiropractic, psychological, wellness programs, holistic healing options. All of which drive up the cost of Health insurance.
I'd much rather hear a FreeMarket solution designed to appeal to Republicans designed by Republicans that has marginal appeal to moderate Democrats.
I'm not for accepting what "we can get" in Health Care. I'm for accepting real solutions or better to do nothing!
We have the most effective system in the world - NOW!