Wednesday, October 14, 2009
The entire theory behind medical insurance existing is that the healthy subsidize the sick. If that weren't the case there would be no value in insurance in the first place. Everyone could keep a savings account for the money they'll need when they succumb. What insurance offers, is the opportunity for someone who gets sick unexpectedly to draw out of the pool before they've paid in fully. Insurers guarantee themselves that they collect more in premiums than they pay in benefits and pocket the difference in administrative costs and profits. Obviously the notion of a 'fair share' under a system where the healthy already pay in more than enough to cover the sick AND the overhead is absurd on its face. Yes the young pay more than their fair share. That's the whole point of insurance. Mandates don't change that one iota.