Friday, November 8, 2013

ObamaCare Is Entitlement, Not Insurance: Will Have Funding Crisis Like Medicare And Social Security

From But Then What, "Is The ACA An Insurance Plan?" by Tom Lindmark:
A lot on the Progressive side of the blogosphere are knocking themselves out promoting the idea that insurance is a process of various cohorts subsidising one and other. The young subsidize the old or the healthy subsidize the sick. It’s essentially a way to rationalize the lack of insurance underwriting inherent in the ACA.
Regardless of your position on Obamacare, you should disabuse yourself of the notion that it is an insurance product. It’s a health care entitlement molded along the lines of Social Security and Medicare. Its disregard for the fundamentals of insurance is the reason it will likely suffer the same funding ills that afflict those two programs.

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