[FoRK] Adverse selection in insurance

Ken Ganshirt @ Yahoo ken_ganshirt at yahoo.ca
Mon Oct 19 08:17:59 PDT 2009

--- On Sun, 10/18/09, J. Andrew Rogers <andrew at ceruleansystems.com> wrote:
> That is because regulations frequently do not let insurance
> companies sell, you know, insurance.  Part of the
> problem is that 95+% of all Americans are deeply ignorant
> about the concept of insurance, 
>  ...[snip]...
> The argument has not been about insurance at all, even the
> GOP proposals are only marginally more about fixing
> insurance.  The argument is over how many Americans are
> we going to officially add to the welfare rolls, but people
> never like the sound of that so the talking heads blather
> incoherent things about "insurance".

Thanks for that perspective. I'm not sure it's because 95+% are ignorant of what insurance really is. I suspect a lot of us are like me: never really thought about it. That's what everyone calls it so you just sort of assume that's what it is. Got bigger alligators biting at the haunches; no need to analyse whether it's really what it's called, you know.

Perhaps only 94% are genuinely ignorant. :-)

I'm Canadian so I have no problem with socialized single-payor health care. But I can see how inefficient and ineffective it is to try to use regulation to turn one part of the insurance industry into a delivery system for socialized health care rather than simply bite the bullet and do it properly ... assuming that's where one wants to end up, of course.


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