" If you could cure any illness with a $5 pill, I'd guess no one would get health insurance."
It is highly unlikely we'll ever get there, especially for genetic disorders and things like that. But who knows. Nevertheless, people will still get run over by a car and be injured, along with a multitude of other, very common accidents. Of course there would still be insurance.
Besides, a good amount of insurance in the world is government-funded. (non-us countries, medicaid, subsidies for private care). Another portion is at least partially paid by employers. These folks don't need the certain level of "damage probability". Employers get an extra bonus with decreased absenteeism, and they might possibly be able to stop paying for insurance altogether.
It is highly unlikely we'll ever get there, especially for genetic disorders and things like that. But who knows. Nevertheless, people will still get run over by a car and be injured, along with a multitude of other, very common accidents. Of course there would still be insurance.
Besides, a good amount of insurance in the world is government-funded. (non-us countries, medicaid, subsidies for private care). Another portion is at least partially paid by employers. These folks don't need the certain level of "damage probability". Employers get an extra bonus with decreased absenteeism, and they might possibly be able to stop paying for insurance altogether.