Proof Paul Ryan is a total effing idiot

Via Powerpoint, the guy explains how insurance works, then says it’s a broken system.  And he’s the speaker of the House.  Let it sink in.  The guy brokering health care for America, doesn’t know how it’s supposed to work.  Or is lying about  what he knows.  I assume it’s the latter, which is worse than the former.

 

Paul Ryan is aghast that healthy individuals are paying into an insurance pot that’s used when people are sick. But … that’s exactly the way insurance works. 

Twitter positively erupted Thursday to school Mr. Health Insurance on the concept.

Everyone pays into the pot and draws on it when they’re sick. Younger people, who tend to be healthier than older people, pay for health insurance like everyone else. They’ll rely on it when when they need it, probably more when they’re older and there are younger, healthier people filing in behind them. It’s the same with car insurance. Some people pay for decades and never get into an accident and never collect on their coverage (though the likelihood of anyone never using health insurance is unlikely).

That’s what actuarial figures are all about, so an insurance system can assess the risks of segments of customers to determine what everyone needs to put into the pot so there’s enough to pay out when someone needs the money.

Advertisements

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s