View Poll Results: Would you buy an "all inclusive" monthly service plan from your local indy?
Yes
6
20.69%
No
23
79.31%
Voters: 29. You may not vote on this poll
Would you buy an "all inclusive" service plan from your indy?
12-25-2017, 07:52 AM
#16
There is no right or wrong answer. My philosophy is to be a bit insurance policy adverse since they make money for insurance companies at my expense. Sports cars are expensive toys and more so when you play at the track. Plus nothing is "bullet proof" and every mechanical part eventually wears out. Once a manufactures warranty expires I self insure. I don't consider myself a rich guy but I have enough to play with Porsches. My insurance policy was to rebuild my motor and a lot of other stuff since I couldn't stomach the idea of driving a bigger 991. I'll keep it for the long run and fix stuff as it fails.
12-25-2017, 01:51 PM
#18
Rocky Mountain High
Rennlist Member
Rennlist Member
Interesting concept.
Any insurance program, whether you are talking about healthcare or automotive service, is based on risk mangement. In order for this type of arrangement to be profitable, independent mechanic would need a very large pool of customers who are willing to pay premiums for this type of service so that he or she could absorb the cost of repairs for the few customers who need big repairs. Do the premiums increase if you drive more? What about premiums for people who track their cars?
The ACA was doomed from the start because it attempted to provide healthcare at a low cost to all people, regardless of risk factors. The math simply didn’t work. The result was the individual mandate, which forced healthy people (low risk) to pay premiums to fund medical care for others. As more high risk patients joined the risk pool, the overall costs rose, and individual premiums rose to the point of being unsustainable. Individuals started dropping out of the exchanges and major insurers lost money. Major insurers then began dropping out, and the ACA death spiral was set. ACOs and bundled payments are actually good things, and the government was experimenting with these before the ACA. Any program that lowers costs, improves outcomes, and improves patient satisfaction is a good thing in my mind. The problem is not the concept, but the implementation. The current system encourages healthcare providers to “cherry pick” healthy patients and turn others away. The final result is higher costs for most people, and less access to care. This isn’t ideal.
Back to the prepaid automotive service idea, I don’t see it being viable. The actuarial tables don’t lie. An independent mechanic isn’t likely to have a large enough risk pool to make it work, and I personally would rather pay for my services as needed.
I was was going to get into the need for tort reform and how that would impact costs in healthcare, but I’ll save that for another time!
Any insurance program, whether you are talking about healthcare or automotive service, is based on risk mangement. In order for this type of arrangement to be profitable, independent mechanic would need a very large pool of customers who are willing to pay premiums for this type of service so that he or she could absorb the cost of repairs for the few customers who need big repairs. Do the premiums increase if you drive more? What about premiums for people who track their cars?
The ACA was doomed from the start because it attempted to provide healthcare at a low cost to all people, regardless of risk factors. The math simply didn’t work. The result was the individual mandate, which forced healthy people (low risk) to pay premiums to fund medical care for others. As more high risk patients joined the risk pool, the overall costs rose, and individual premiums rose to the point of being unsustainable. Individuals started dropping out of the exchanges and major insurers lost money. Major insurers then began dropping out, and the ACA death spiral was set. ACOs and bundled payments are actually good things, and the government was experimenting with these before the ACA. Any program that lowers costs, improves outcomes, and improves patient satisfaction is a good thing in my mind. The problem is not the concept, but the implementation. The current system encourages healthcare providers to “cherry pick” healthy patients and turn others away. The final result is higher costs for most people, and less access to care. This isn’t ideal.
Back to the prepaid automotive service idea, I don’t see it being viable. The actuarial tables don’t lie. An independent mechanic isn’t likely to have a large enough risk pool to make it work, and I personally would rather pay for my services as needed.
I was was going to get into the need for tort reform and how that would impact costs in healthcare, but I’ll save that for another time!
12-26-2017, 01:42 AM
#19
Nordschleife Master
Voted no since I wouldn't pre-pay an indy for anything. Service, repairs, maintenance or otherwise. Have nothing against them......have used them in the past with no complaints but they are small independent businesses that may be here today but maybe not tomorrow and then what?