I may have missed this during the Supreme Court arguments on ObamaCare. If so, correct me.
But I am not hearing this premise:
Your money or your life.
Health insurance has that factor – that psychology of the buyer — that no other insurance has. The majority of us will do anything to live, to be healthy, or to keep our loved ones alive and healthy.
That fact doesn’t happen when you’re buying car insurance. So, why do we use the same supply and demand theories to health insurance that we do to car insurance?
Bottom line: Health insurance is a different and unique product dealing with the irrationality of our mortality that needs a different set of regulations and ideas – and can’t just be treated as a commodity.
Now think about this conundrum. The majority of Americans are against ObamaCare, but an overwhelming amount wants to force insurers to stop banning pre-existing conditions. Watch the opposing sides fight over this – if the law – or part of the law — is knocked down.
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