It was all over the internet yesterday, but in case you missed it: Paul Ryan flubs the basic idea behind insurance
“The fatal conceit of Obamacare is that we’re just gonna make everybody buy our health insurance at the federal-government level, young and healthy people are going to go into the market and pay for the older, sicker people. So, the young healthy person is going to be made to buy health care, and they’re going to pay for the person, you know, gets breast cancer in her 40s or who gets heart disease in his 50s. […]
“The whole idea of Obamacare is … the people who are healthy pay for the people who are sick. ”
Insurance 101: we pay premiums, the money goes into a pool, funds from that pool pay for care.
Is it really that exotic that ZEGS, a man of incredible inherited wealth who has spent his entire career as a public servant, has never dealt with actuarial tables or even the concept of herd immunity while drafting legislation?
Or maybe he’s just another moran.