Obama wins, saves economy single-handedly while defeating economy-hating Republicans

[Al B. Sure!]

That's true, gribbler, but the point is that 1200$ of benefits are not even close to enough to demonstrate non-linearity in utility for virtually anybody in modern society other than the most liquidity constrained (e.g. those without access to a credit line, friends or family).

Umm... You have this bizarre concept that everybody is rich. What's up with that? Many Americans are so liquidity-constrained.

Like I said, if dental work will cause a burden to ANYONE, dental insurance makes since and is not ****. The fact is, the costs of uninsured dental work are prohibitive for many Americans.

[KrazyHorse]

Umm... You have this bizarre concept that everybody is rich. What's up with that? Many Americans are so liquidity-constrained.

Rich? You ****ing twit, I had a credit line of 1500$ within two weeks of moving to the US, on a salary of 18000$ per year.

By the time I graduated, I was earning 24000$ per year and had credit lines worth 60000$ total

[KrazyHorse]

If dental costs are prohibitive then so are ****ing dental insurance payments.

1200$ of benefits is a ****ing JOKE.

Borrowing 1200$ on need (or building up a reserve of this size) instead of insuring against it is within the reach of virtually anybody with a steady salary.

INSURANCE MAKES SENSE FOR EVENTS WHICH ARE RARE, NOT THOSE WHICH THE AVERAGE PERSON WILL PROBABLY EXPERIENCE MULTIPLE TIMES.

[KrazyHorse]

Let's make a list of what albert doesn't understand the meaning of:

1) Expected value
2) Risk preferences
3) Liquidity constraints

I would fail you from an INTRO FINANCE CLASS based on what I've seen here.

[KrazyHorse]

BTW, 1200$ is < two weeks salary for the median US worker.

Would it be unpleasant to go without salary for two weeks, for most people? Yes. Would it be catastrophic or life-altering? Would it have a significant effect on the person's lifetime earnings?

[Al B. Sure!]

You have no real-life understanding of economic hardship. You have no concept of living hand to mouth.

[KrazyHorse]

You have no idea what the **** you're talking about.

My senior year of university I lost 15 pounds in 2 months (from 160 lbs to 145 lbs at 5'11-6' or so) because I couldn't afford to eat. I've supported myself since I was 19.

EVEN THE MOST LOWLY WORKERS IN THE US CAN EASILY BORROW 1200$

The only people who can't are those who have blown their credit already, or who are ****ing useless layabouts whining about how jobs weren't handed to them on a silver platter with their mediocre degree from a third-rate university.

[Al B. Sure!]

I fully understand what you're trying to say... like if there's a spectrum of risk assessment... with high frequency, high cost events being uninsurable... low frequency, low cost events there being no need for insurance... low frequency, high cost events being typically what you insure... and then high frequency, low cost events generally being 'self-insured'...

My point is that dental care is not low cost for everyone.

[KrazyHorse]

It's not "low cost"

It may well be a hardship. It is NOT, however, a significant fraction of lifetime earnings, nor beyond the means of almost anybody to borrow.

It is therefore, not a reasonable insurance target for any but the most ridiculous risk preferences.

[KrazyHorse]

If I had a vehicle currently then I wouldn't insure it against collision damage. The fraction of my lifetime earning plausible losses would inflict upon me would be similar to the fraction of earnings that the median worker would suffer due to the lack of dental insurance.

15k would be unpleasant to lose, but not catastrophic.

[Al B. Sure!]

The dentist or mechanic or whatever else doesn't accept 'lifetime earnings'

[Ben Kenobi]

not a reasonable insurance target for any but the most ridiculous risk preferences.

Agreed. Do the math, Albert. I've spent 700 bucks, with no dental over the past 10 years. That was for my wisdom teeth. Even if it were 5 bucks a month, I'd have saved a 100 dollars.

[Al B. Sure!]

Agreed. Do the math, Albert. I've spent 700 bucks, with no dental over the past 10 years. That was for my wisdom teeth. Even if it were 5 bucks a month, I'd have saved a 100 dollars.

I've spent $4000 in cash... Had I been paying $30/month for insurance with a $1200 benefit cap, I would have been in the 'green' if I had dental work within 40 months (3 1/3rd years!) of having insurance coverage. I would have still spent $2800 so obviously needing dental work was still undesirable but the point was that my premiums would have taken over 3 years to exceed claims.

My point is that there are clearly people and circumstances in which dental insurance makes sense.

[KrazyHorse]

No, you ****ing twits. THE REASONABLE COMPARISON IS NOT EX POST.

And Albie, you ****ing reject with no intellectual honesty, the fact the the dentist doesn't accept lifetime earnings is PRECISELY why I mentioned the very reasonable availability of consumer credit in the US.

[Al B. Sure!]

No, you ****ing twits. THE REASONABLE COMPARISON IS NOT EX POST.

And Albie, you ****ing reject with no intellectual honesty, the fact the the dentist doesn't accept lifetime earnings is PRECISELY why I mentioned the very reasonable availability of consumer credit in the US.

A lot of Americans have shoddy credit.