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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: carranza2 who wrote (522298)	11/13/2012 10:19:45 AM
From: Maurice Winn	1 Recommendation Read Replies (1) \| Respond to of 793670

Risk sharing is good if the administrative and other costs are not too high and it is actually equal risk sharing and not just wealth redistribution from the wealthy and healthy to the sickly. <If the only way someone could afford a serious, expensive surgery is to pay for it via insurance, it makes economic sense to pay the premiums. It's called risk sharing and it is eminently rational. > A young person who has not had time to save $10,000 for a major medical manoeuvre could use a credit card for most expenses and insure only for very major risks. Having medical insurance for contraception, vaccinations, and other predictable things is absurd. That's like buying insurance for groceries - just in case some bad luck in life means they need to go to the supermarket. After 45 years of nearly no insurance, I have saved tons of money which has been invested and now returns big heaps. One of my good investments was Prudential [PHR] which provides insurance to people. It was good insurance to invest in insurance rather than buy insurance. When compulsory car insurance was brought in to California, I did buy it rather than take my chances as an alien not knowing the rules. I bought car insurance in Antwerp where I couldn't buy a car without buying insurance which is a legal requirement. We have a form of Obamacare in NZ whereby a huge medical system is run by the government so tax is partly compulsory medical insurance. So I have not been able to totally avoid insurance. There is also Accident Compensation Corporation compulsory insurance against accidents which is hard to avoid [it's a government department]. Being "employed" in a family business, I am forced to pay them. Same with vehicle registration - some of the loot they take goes to accident insurance. Mqurice PS: Have you noticed the price of gold? $1,727 coming down the home straight, nearly at the finishing line. That's 4 years in a row precisely on the money. I bet you are starting to be impressed.