Paul Ryan Doesn’t Understand What Insurance Is

Good God… Paul Ryan doesn’t understand what insurance is. I just watched his Powerpoint presentation explaining his healthcare bill, and at one point he describes the ‘fatal conceit’ of Obamacare as being this:

“Young and healthy people are going into the market and pay for the older sicker people. So, the young healthy person is going to be made to buy healthcare, and there going to pay for the person who gets breast cancer in her forties, or gets heart disease in his fifties.”

Yes, Paul, that’s called INSURANCE. That is exactly what it does. It is what it has ALWAYS done. It works that way with auto insurance and homeowners insurance, and yes, health insurance. The premiums from people not making claims collectively pay for the people who do make claims. Yes, my premiums will pay for the person who gets breast cancer or heart disease or cancer or whatever, and I’m fine with that… because someday that person MIGHT BE ME. People in the same group pay the same rate regardless of health condition. It’s called group rating, and its how health insurance has worked in the employer provided market for decades. It is the singular most important reform that Obamacare brought to the individual insurance market, and you want to get rid of it?

Saints preserve us… the Republican healthcare law was drafted by someone who has no clue how any of this stuff actually works.

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