It is a racket.
It is a set up so doctors can have huge salaries instead of having to dun people for money o accept chickens as payment
No it is not a racket because in mutuals, the less you use the insurance, the less the cost. There is an incentive to not cheat the system. It is like savings, you set aside money or fund raise.
What the racket is involves the government regulation impeding people from saving and having to rely on businesses they might not want to be involved with.
In Florida, Doctors pay very high malpractice insurance premiums because of bull shit lawsuits. Now, who’s the bad guy? You pick. Either way you’ll think you win.