Darn! Another grand liberal plan spoiled by logic!

The Wall St Journal has the “truth about health insurance” that explains if you force insurers to cover anybody at any time, then people will only get coverage after they get sick, and costs will skyrocket.

Let me explain this in case you don’t get it.

Let’s say you are an insurance company. You charge people for policies that will pay out if they get sick. You need a lot of people who are not sick paying those small premiums to cover the large costs of the few who are sick. If the government says you have to cover someone, at any time, then there is no incentive to carry the insurance until they get sick. That leaves you with only sick people carrying insurance and you are paying out ten times what you are charging (or more). You will be bankrupt very shortly.

Let’s take this grand idea of Obama’s to other industries. Let’s apply that to car insurance. From now on, companies cannot refuse to cover your car for any reason. So, you don’t have to carry car insurance…until after you’ve had a wreck. Then you call Geico, get a policy for $100, and immediately put in a claim for $5000. As soon as it’s paid, you cancel the policy.

How about extended warranties on your appliances? You don’t have to purchase them until after the washing machine is broke. Then, for $20, you get your machine fixed for $500, and cancel the policy.

Life insurance? Don’t have to sign up until after someone dies, then the next of kin calls State Farm, and Blammo! A payoff of $250,000 for a fee of $25.

How long do you truly think these companies will be able to stay in business?