Insurance explained to Obamacare opponents

 

Some people object to Obamacare because they do not want to pay for the medical care of others. If these people have health insurance now, they are already paying for the medical care of others.

Part of the premiums paid goes toward paying the cost of catastrophic medical care of others who also have health coverage by their health insurance company. If they themselves suffer from a catastrophic illness or injury, then other policy holders will pay a portion of their medical care.

All insurance operates in a similar way. The premiums we pay in may be more than the benefits we receive from the insurance, if we have no claims. If we do have claims, then we may receive more in medical claim payments than we paid in as premiums.

The change with ACA is that the health insurance companies must pay out at least 80 percent of their premium income as medical care payments, where before, they did not have to do that.

Bruce Hogman, Fort Lauderdale

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