Insurance is risk pooling. A bunch of people get together and pay a small amount of money into a pool, and then when one of the people has an adverse event happen to them, the frequency of which can be broadly statistically predicted, then the pool pays out to the unlucky person who had the adverse event happen to them.
Now let’s see. From DAY FLIPPING ONE the Obama regime has been saying that mean old insurance companies will not be able to turn away customers with pre-existing conditions – in other words, insurance companies will have to let people JOIN THE RISK POOL … AFTER THE RISK EVENT HAS ALREADY HAPPENED.
Um, yeah. That is the total, complete destruction of the entire insurance paradigm. This isn’t my opinion. This is a mathematical fact … an extremely simple and elementary mathematical fact. If people who have already had the adverse risk event happen to them must be allowed into the risk pool, then it is no longer a risk pool. It is a wealth redistribution scam that victimizes the TOTAL, COMPLETE MORONS who enter and pay into the “pool” without already having had the risk event happen to them.
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