At one time that was true. Not much any more. That is why you have some like Aetna are bailing out because they would lose money. Same with Allstate in many states. Limiting coverage or bailing out all together because the losses are too high.
Then of course we could look at social security. The current numbers show spending at roughly 200k more per person than what they put in. That is why that program is in trouble.
After learning how the insurance industry acts behind the smokescreens of their PR spun announcements, I don't believe their explanations or statistics, either. [I'm referring to their rate wars to capture the bottom of the barrel medical practitioners after everryone else was taken, followed by some seriously poor investment decisions with the income from those bad apples, and their public outrage when the bills came due in the form of jury verdicts against their clients: tort reform!]
Insurance is a perfect example of too much power used to enrich the few to the detriment of the many, and it's a large factor in why medical care is not affordable for too many people who work for a living, never mind those who don't.
Social security is another subject, but it isn't the system that's flawed, it's the way Congress has misused their power to make it work.
