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GoFundMe CEO: One-Third of Site's Donations Are to Cover Medical Costs(time.com)

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BrikoX@lemmy.zip
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usa@midwest.social
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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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Justas🇱🇹@sh.itjust.works
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Luigi Mangione meets the CEO of Gofundme, gives him a hug and a cookie.

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Nougat@fedia.io
66 points

It’s crowdfunded insurance. Because actual insurance fails.

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Justas🇱🇹@sh.itjust.works
2 points

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

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clutchtwopointzero@lemmy.world
10 points

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

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gravitas_deficiency@sh.itjust.works
7 points
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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 🫡

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halcyoncmdr@lemmy.world
8 points

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.

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danekrae@lemmy.world
31 points

That’s just universal healthcare with extra steps!

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Etterra@discuss.online
22 points

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

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P03 Locke@lemmy.dbzer0.com
6 points

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

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ramsorge@discuss.online
18 points

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

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