March 10, 2017
With ‘Fatal Conceit,’ Speaker Paul Ryan Fails Insurance 101
It appears Speaker Paul Ryan (R-WI) is deeply disturbed that insurance premiums paid by healthy people help offset the insurance costs of people who are sick. But that is exactly how health insurance works. In fact, it’s how all insurance works. It’s called spreading the risk. In any insurance pot, there is a minority segment who are higher risk, and these higher risk individuals rightfully pay higher premiums. But in addition to those high-risk premiums, the low-risk majority chips-in to cover the greater cost outlay to insure the high-risk minority.