Why Obamacare failed

Come November, the grim trudge across the increasingly barren Obamacare landscape begins anew. Illinois consumers likely face staggering price hikes for individual insurance policies. Some types of plans could cost an average of 43 percent to 55 percent more. Ditto across the country: A first tranche of states approved 2017 rates with similarly cardiac-arrest-inducing premium increases.

Source: Why Obamacare failed

Obamacare failed because insurance is based on risk pools — that is, the lucky subsidize the unlucky. The unlucky who have big health problems (and big medical bills) reap much greater benefits than those who remain healthy and out of the doctors’ office. But Obamacare’s rules hamstring insurers. They can’t exclude people for pre-existing conditions, and can’t charge older customers more than three times as much as the young. Those are good goals, but they skew the market in ways Obamacare didn’t figure out how to offset. Result: Young and healthy consumers pay far more in premiums than their claims (probably) would justify in order to subsidize the unexpectedly large influx of older, sicker customers who require expensive care. Too many unlucky people, too few lucky people: That will collapse any insurance scheme.

Obamacare failed because it allowed Americans to sign up after they got sick and needed help paying all those medical bills. Insurance should be structured so that, although you don’t know if you’ll need it, you pay for it anyway, just in case; your alternative is financial doom. But if you can game the system and, for example, buy auto coverage after you crash into your garage, then you have no incentive to buy insurance beforehand.

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Hillary Clinton in white pantsuit for Trump inauguration | Daily Mail Online

President Trump orders a standing ovation for Hillary and Bill Clinton – and finally gets them to smile after humiliated couple sit glumly through his swearing-in and hear crowd chant ‘lock her up’ Donald Trump used a short speech at the end of a luncheon at the Capitol in his honor to thank the Clintons He says of them being at inauguration: ‘I was very honored. I’d like you to stand up.’ President had already shaken hands with both Clintons on the way in and voiced ‘thank you’ to Hillary Clintons did not join the Democratic boycott and she rebuked those who did on Twitter They couldn’t muster a smile as they arrived at the Capitol – and in the crowd there were ‘lock her up’ shouts Clinton and Trump did not shake hands during the ceremony but she exchanged greeting with Mike Pence She later came face-to-face with the new president inside the Capitol building at the inaugural lunch Husband Bill helped her put on a plastic poncho as rain began to fall at the Capitol

Source: Hillary Clinton in white pantsuit for Trump inauguration | Daily Mail Online