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Atman

(31,464 posts)
Thu Mar 23, 2017, 08:25 PM Mar 2017

Ali Velshi is giving the best explanation ever of how insurance works.

(MSNBC) Explaining why the GOP plan simply doesn't work and how "free market" insurance will NEVER EVER work. It should be required watching for every American, especially Trumpsky-ites.

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Ali Velshi is giving the best explanation ever of how insurance works. (Original Post) Atman Mar 2017 OP
Ali Velshi? Really? I always thought of him as con. Boomerproud Mar 2017 #1
I don't like him either, but... Atman Mar 2017 #2

Atman

(31,464 posts)
2. I don't like him either, but...
Thu Mar 23, 2017, 08:35 PM
Mar 2017

...he was spot-on. He explained it in a most basic way. Imagine if you got to choose selective insurance, as the GOP proposal calls for. Imagine you ONLY chose a disease which 50% of Americans get. For-profit insurance companies would know that they'd never have to pay out on half of the income they take in, so they adjust the rates accordingly so they still make a profit. But if everyone is only picking and choosing the selective diseases they want to be insured for, there is no POOL to offset the costs. So everyone's rates skyrocket. Basic math.

Sadly, most Americans are watching Kardashians or Fox "News" and will never hear this most basic explanation of how insurance works.

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