this post was submitted on 15 Dec 2024
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GoFundMe CEO: One-Third of Site's Donations Are to Cover Medical Costs (time.com)
submitted 2 months ago by [email protected] to c/[email protected]
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According to a new report from Gallup, uninsured rates in the U.S. have reached a four-year high

Older article from 2019, but kind of relevant today.

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[–] [email protected] 66 points 2 months ago (3 children)

It's crowdfunded insurance. Because actual insurance fails.

[–] [email protected] 10 points 2 months ago (1 children)

Whi is the failure of actual insurance not seen as criminal contractual fraud?

[–] [email protected] 7 points 2 months ago* (last edited 2 months ago)

Because they write the contracts on the policies VERY carefully such that it’s NOT a breach of contract. There are armies of lawyers whose job it is to make that a thing. It’s 100% legal and above board.

Also, lobbying.

Also also, regulatory capture.

Also also also, profit über alles 🫡

[–] [email protected] 8 points 2 months ago

Actual insurance is crowdfunded as well depending on how you look at it. The premiums provide the funds for claim payment, the profit is pulled from that by denying as many claims as possible.

[–] [email protected] 2 points 2 months ago

Actual insurance could work if it was handled by a nonprofit. Or, you know, the government.

[–] [email protected] 31 points 2 months ago

That's just universal healthcare with extra steps!

[–] [email protected] 21 points 2 months ago (1 children)

So what they're saying is that GoFundMe has a financial incentive to help maintain the healthcare industrial complex as-is. Got it.

[–] [email protected] 6 points 2 months ago

CEO wouldn't be announcing this if he didn't want it to change. They can always fundraise some other thing.

[–] [email protected] 18 points 2 months ago

Haha and another third are probably legal fee based. And yet they pull Luigi off it

[–] [email protected] 15 points 2 months ago

I am surprised it is that low.

[–] [email protected] 15 points 2 months ago (1 children)

Was expecting this again. Still relevant.

[–] [email protected] 2 points 2 months ago

I'm glad someone beat me to posting this. Brennen is the best.

[–] [email protected] 11 points 2 months ago (1 children)

Maybe it’s time for everyone to cancel insurance and just use go fund me as a giant healthcare pot for all

[–] [email protected] 2 points 2 months ago

https://en.wikipedia.org/wiki/Friendly_society

edit: also maybe don't rely on yet another large corporation to keep your best interests in mind

[–] [email protected] 9 points 2 months ago (1 children)

They pulled the funding for concrete action on this matter.

[–] [email protected] 1 points 2 months ago

Solving the problem would cut into their bottom line.

[–] [email protected] 7 points 2 months ago

Ah yes, the nations largest healthcare provider.

[–] [email protected] 1 points 2 months ago

Luigi Mangione meets the CEO of Gofundme, gives him a hug and a cookie.