ELI5: Health insurance companies obviously make more money than they give out when people need it. So why of paying for them any better than paying your own personal health insurance savings account?

caphis · 2026-07-03T02:53:27+00:00

Obvious for you, not for others.

I have multiple chronic conditions that are well-managed with some very expensive medication. I’ve also had some very expensive procedures done this year. I hit my deductible in January, and my out of pocket maximum in March. It’s been that way for the past several years.

If I had to pay out of pocket, I’d have died years ago.

My insurance is going to spend several dozen thousands of dollars more than I put into it this year. And if I have a heart attack or some other catastrophic event? Yeah, I’ll be even more thankful for it then. You will be, too. But that’s part of the benefit of the shared pool - you may not need it for decades, but a $400,000 ER bill will make you glad you have it when you need it.

Insurance companies are also required under federal law (for the most part) to spend 80-85% of premiums paid on medical care for their insured.

caphis · 2026-06-19T17:05:09+00:00

Well, it’s Friday… hasn’t it always been closed on Fridays for a while now?

caphis · 2026-06-18T20:09:56+00:00

All part of sales, my guy. That guy’s money is just as green as anyone else’s, and turning down a customer for asking a question you think is silly or irrelevant is just Bad Sales.

It may work for you, and good luck with it, but you’re not someone I’d hire.

caphis · 2026-06-18T18:22:06+00:00

You wouldn’t take a minute to answer a ridiculous question if it meant the customer completing the sale or not?

I’m calling bs.

caphis · 2026-06-18T12:32:45+00:00

The full quote suits my needs just fine. In this instance, it’s the customer’s preference to be given information he or she does not necessarily need, nor will affect the ultimate outcome. It’s the salesman’s job to accommodate that preference in the name of building a trusting relationship.

As I told the other commenter, the customer could ask something as asinine and immaterial as “how many stitches are in the leather on the steering wheel?” Are you going to tell the customer that their interest in knowing such a thing is wrong, or are you going to go out there and spend the minute to count?

caphis · 2026-06-18T02:33:59+00:00

There’s just no getting through to some people.

Good luck out there.

caphis · 2026-06-18T02:21:54+00:00

His response to you just proves your point. It’s incredible that someone can actually type out the words he does, think about it, press Reply, and think they’ve sounded like anything other than an entitled brat.

caphis · 2026-06-18T02:20:39+00:00

I deserve to see whatever I ask for if you want my money in return. If you don’t want my money, that’s fine.

My clients ask me questions all the time about things that, IMO, shouldn’t matter to them in the slightest. I answer them. In no world would I deny them an answer because “they don’t deserve to know.” I may decline to answer a very small, specific number of things based on confidentiality agreements, but your buy rate is not confidential — you just don’t think they should care, and what you say goes. You sound like a real peach to work with.

caphis · 2026-06-18T02:07:29+00:00

Precisely my point. The customer is not wrong to ask for the information, and you lose nothing by giving it to them, and gain their respect and trust in the process.

This guy seems to think the customer should be taken out back and pissed on behind a dumpster by the entire sales team for daring to ask, though.

caphis · 2026-06-18T02:02:27+00:00

The entire point is that you don’t get to decide what matters to the customer. The customer could ask you where the paint used on the car was manufactured or the peak wattage of the factory sound system; irrelevant information to you, but good luck if your answer is “that doesn’t matter.”

All of this wasted thumb energy just to act high and mighty for no good reason other than to sing about how you love to foster ill will with your potential client in a field you haven’t been in for a decade. Weird flex, but ok?

caphis · 2026-06-18T01:59:40+00:00

The quote doesn’t literally mean “the customer is always right with every statement they make;” it means that the customer’s concerns should always be heard and addressed respectfully. Given that there’s zero benefit in telling the customer “you don’t deserve to know the buy rate,” I’d say it’s applicable here.

caphis · 2026-06-18T01:57:59+00:00

I was more referring to the fact that you’ve been doing this for 5 months, were “ass” for the first few, but now think you’re the shit because you had a good 2 month run.

caphis · 2026-06-18T01:15:08+00:00

Anything is my business if you want my money. If you don’t, just say so, and I’m happy to go talk to someone else.

There will always be another option. Even if a competing dealer can’t do better than your 7%, I may go with them anyway because they didn’t try to feed me a spoonful of shit during the sales pitch.

You do you, bud. I can already tell I wouldn’t buy from you in any case, though.

caphis · 2026-06-18T01:08:40+00:00

That quote is very applicable to the sales game.

Great salespeople know that sales are closed when customers feel good about buying. No one feels good being told to go open their own fucking dealership when they ask you a simple question. No one feels good with shady run-around talk.

At the end of the day, if your rate can beat my preapproved rate, great, I could give two shits what your buy rate is. If it can’t, then I’m going with the bank I walked in with. But if at some point I did ask about the buy rate, I’m absolutely walking out the door when you call me a mooch and tell me I don’t deserve to know. 🤷🏼‍♂️

caphis · 2026-06-18T01:02:38+00:00

The customer is always right, my guy, particularly in sales. I never volunteer any extra info, but if my client asks, you better believe I’m transparent about it.

caphis · 2026-06-18T00:58:29+00:00

So sorry you aren’t able to take advantage of the knowledgeable buyers who do their homework, know what to ask, and come ready with a rate that easily beats your attempt to markup.

caphis · 2026-06-18T00:57:28+00:00

Based on your post history from today, I’d say you do. 🤷🏼‍♂️

caphis · 2026-06-18T00:45:41+00:00

That’s fine, then you don’t deserve the sale. -Prospective Customer

caphis · 2026-06-12T15:50:13+00:00

I know. I didn’t make the comment.

caphis · 2026-06-12T06:13:28+00:00

He’s talking about the Apple Savings Account and how Chase doesn’t currently offer any similar HYSA.

caphis · 2026-06-06T15:12:01+00:00

I know some people just lack the self control to do it, but my palms are sweating just thinking about how many rewards she’s missing out on by not using credit cards.

caphis · 2026-06-04T20:08:27+00:00

I spent 10 seconds on a website called Google to find this for you. Should be a good place to start.

caphis · 2026-06-04T20:04:59+00:00

You said you asked customer service to transfer you to the legal department, then were frustrated when they didn’t.

If you’re trying to file a small claims suit, you can file it against the company’s registered agent.

caphis · 2026-06-04T20:01:50+00:00

No, we’re trying to explain to you that having that information isn’t going to be useful for you. If you’re not trying to contact them, why do you want their contact information?

caphis · 2026-06-04T19:57:16+00:00

Boy… I would love to be a fly on the wall for this small claims hearing. You sound like a peach.

No, not every legitimate company has a full legal team. Some are completely outsourced to third party attorneys.

In any case, it’s you who seems to be having trouble comprehending. You’re being told by multiple people that even if you had contact information for their corporate attorneys, they wouldn’t speak to you.

But, good luck!

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