President Obama said: Our reform will prohibit insurance companies from denying coverage because of your medical history. Nor will they be allowed to drop your coverage if you get sick. They will not be able to water down your coverage when you need it most. They will no longer be able to place some arbitrary cap on the amount of coverage you can receive in a given year or in a lifetime. And we will place a limit on how much you can be charged for out-of-pocket expenses. No one in America should go broke because they get sick. It seems that the President does not understand what insurance is. Insurance is, at its core, essentially gambling. The insured gamble that they will need more money at some point than they will have given the insurance company. The insurers gamble that the insured will never need the money back. It is no different than going to a casino in Vegas and playing every month, hoping to eventually hit the jackpot. The casinos naturally attempt to minimize their losses ...
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