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#1 O'care Architect: Genetic "Lottery Winners" Paying An "Artificially Low Price"
11-14-2013, 03:24 PM
- Join Date
- Jun 2008
Here is another dim bulb who doesn't understand how insurance and risk work. How they can be in charge of a health insurance for anyone, no less an entire nation? Yes, I know he's from MIT; but some of the stupidest people I know are in academia.
Obamacare Architect: Genetic "Lottery Winners" Have Been Paying An "Artificially Low Price"
JONATHAN GRUBER, M.I.T.: Let’s start with understanding that we're not talking about the vast majority of Americans. This law is really leaving those with employer insurance, those with government insurance alone. We’re talking about a small minority of Americans that buy insurance on their own through the individual market.
CHUCK TODD: Still millions of people.
GRUBER: Exactly. It's 12 million people, about a third of which will end up paying more under this law. And that as you said in the introductions sort of the idea. We currently have a highly discriminatory system where if you’re sick, if you’ve been sick or [if] you’re going to get sick, you cannot get health insurance.
The only way to end that discriminatory system is to bring everyone into the system and pay one fair price. That means that the genetic winners, the lottery winners who've been paying an artificially low price because of this discrimination now will have to pay more in return. And that, by my estimate, is about four million people. In return, we'll have a fixed system where over 30 million people will now for the first time be able to access fairly price and guaranteed health insurance.
11-14-2013, 03:29 PM
- Join Date
- Jun 2008
He's an economics prof and should know better. The NYTimes describes him as a "numbers wizard", which means he is probably one of those economists who spends his whole day looking at mathematical computer models but has no idea of the social and political assumptions that underlie his field.
...Mr. Gruber has spent decades modeling the intricacies of the health care ecosystem, which involves making predictions about how new laws will play out based on past experience and economic theory. It is his research that convinced the Obama administration that health care reform could not work without requiring everyone to buy insurance. ...
...“As soon as I started reading the dispatches my stomach started churning,” Mr. Gruber said of the arguments on Tuesday, while taking a break from quizzing his son for a biology test. “Losing the mandate means continuing with our unfair individual insurance markets in a world where employer-based insurance is rapidly disappearing.” ...
An economist who does not understand how insurance works, how risk is assessed. His math is subject to his ideology: a dangerous combination.
11-14-2013, 04:04 PM
Even most kollege edumacted cretins can understand this:
Should a driver with an at-fault accident each year for five years straight be made to pay more for auto liability insurance than a driver who has had no accidents in twenty-five years of driving? Yes. Should a coal miner pay more for health insurance than a pharmacist? Yes.
Insurance is about underwriting the risk, and has nothing to do with the ability to pay the premium.
Four boxes keep us free: the soap box, the ballot box, the jury box, and the cartridge box.
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