For at least half a century (Medicare turned 50 last year), health insurance policies have been hotly debated. The most recent skirmish is over the Trump administration’s final rule expanding the availability of short-term, limited-coverage insurance. Single-payer and Obamacare stalwarts have attacked it tooth and nail. For instance, Los Angeles Times columnist David Lazarus asserted backers “have no clue how insurance works” because they “decided to skip class when the topic of insurance came up in Econ 101.”
Unfortunately, if accurately applying principles of insurance is the standard, both single-payer and Obamacare fans compare poorly to pots calling kettles black. Their preferred policies sharply conflict with insurance principles on multiple fronts.
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