Paul Ryan's healthcare PowerPoint presentation 'fails to grasp how insurance works'

The Federalist has a counterpoint to original article - http://thefederalist.com/2017/03/10/obamacares-defenders-no-idea-insurance/

“Is he also upset that car insurance makes people who don't get into wrecks help pay for people who do get into wrecks? This is literally the definition of insurance.”

Is that truly so? With car insurance, those more at risk of accidents have to pay higher premiums, as do owners of cars with higher cost of replacement and there are various controls in place to prevent gaming of the system.

With real, market based insurance, an insurance company would charge more for pre-existing conditions, put a cap on lifetime benefits and have other measures in place which ensure liquidity of the pool and a profit for the company. The ACA, while beneficial to the recipients, had restrictions by the government that skewed the insurance pool and made it more of a social welfare program.

The country would have been much better off with recognizing that medical help was a social welfare need and just go with government backed public payer option. With current situation, we will continue with a hodge podge that will make no one happy.

/r/politics Thread Parent Link - independent.co.uk