Why do car insurance companies charge more for teenage boy drivers? Because they pose a higher risk of filing an insurance claim from accidents, mud bogging, speeding tickets, etc. Insurance companies must manage a pool of risk against potential expenses. Riskier participants pay a higher premium. This is not rocket science.
Yet health insurance companies are now prevented by the Obamacare law from charging a higher premium to ‘riskier’ clients. Thus the cost of insurance premiums and copays had to be raised on healthy people to absorb this perversion.
Peter Schiff stated it perfectly in a recent tweet:
Today, health insurance costs about the same for a family of four as a mortgage payment for the typical single family home. If, God forbid, you actually need care, the yearly deductible is usually equal to yet another annual mortgage payment. And if you fail to purchase this overpriced garbage, you get fined by the government. Can you say mafia racket?
This post was published at The Daily Sheeple on AUGUST 11, 2017.