“Charging more than they pay out on average”...
Perhaps they make a profit, but the point of insurance is that some people, on exception, receive more than they pay in.
For extra health insurance (beyond the "socialist" baseline) about 15% of New Zealanders use a private not-for-profit organisation that began in 1961 called Southern Cross Medical Care Society.
Health care is a special case where you usually "win" if you always paid premiums but never have to make a claim (because claims often can't repay bad health).
And if you are a socialist, you can be happy because your premiums go to the health losers (had to make claims but their life might be shorter or shitier).
