Yes, I believe that insurance is necessary. Insurance gives people a sense of security. I want to know that I will be taken care of if anything should happen to me, whether it be health related, a robbery, a fire, or any other unforeseen circumstance. Without insurance, I know that I would be very worried about what would happen to me in these situations.
Insurance is necessary because not everyone can afford to pay for health procedures or car accidents. The way it works is simple--not everyone needs health insurance or gets into a wreck at the same time. Those who don't need the insurance but still pay for it help pay for those who file claims. Insurance companies also invest their money to earn more funds in order to pay for claims. Insurance is necessary, otherwise the average citizen wouldn't be able to pay for hospital visits or car accidents. We'd be an unhealthy society riding bikes or taking the train.
Yes, I believe that insurance is necessary, and that all Americans should cover at least a basic coverage of many different types of insurance. The types of insurance that all Americans should carry include healthcare, car, and home insurance to help those who are affected by accidents recover any costs that they may run into.
The security provided is necessary, but there are other possible means to this end. The government could cover people based on need and only what is needed, and then for all other things people should just pay and with their own money. Insurance causes INFLATION. Passing the risk to a company with more money means that the prices of the goods and services auto, healthcare, home, what ever it is will go up for all. That means people who previously would've afforded it fine without insurance then need to buy insurance, making the insurance companies richer, and creating a vicious cycle of inflation which leads to a great deal of the economy being spent to give insurance people profits instead of on actual production of goods and services. Prices would drop if insurance didn't exist and the government could intervene to protect people who don't have the means when they don't have the means. And if you have the means then pay directly for it.
Historically, have people "needed" insurance to survive? Even more recently, when medical services were available, people directly paid their doctors and did not rely on insurance to shoulder part or all of the cost. Health insurance, in my opinion, is one reason why health care costs are so high - they became inflated when insurance companies made it possible for them to charge higher fees. Other types of insurance, such as auto and life, are convenient in case of emergency, but not needed (however, these haven't had the damaging effects of health insurance).
Though idealist, I believe that the solution to mitigating the risk of insurmountable healthcare cost is to lower the healthcare cost, not commit to a perpetuity that profits on the improbability of its payout. It's a little like tithing at church, or protection fees, and now it's mandatory.
Thanks Obama, perhaps your efforts will have been better applied toward increasing competition in the healthcare market. Maybe it's a function of the inelastic and powerful demand for healthcare that healthcare costs are so high. Still, we need to eat and drink water, and we don't see these costs exorbitantly high.