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US health insurers' bottom line: reject odds-on claimants

Health care covers only healthy people.

Paul Krugmanby Paul Krugman, New York Times

Elizabeth Edwards has cancer. John McCain has had cancer in the past. Last weekend, Mrs. Edwards bluntly pointed out that neither of them would be able to get insurance under Mr. McCain's health care plan.

It's about time someone said that and, more generally, made the case that Mr. McCain's approach to health care is based on voodoo economics — not the supply-side voodoo that claims that cutting taxes increases revenues (though Mr. McCain says that, too), but the equally foolish claim, refuted by all available evidence, that the magic of the marketplace can produce cheap health care for everyone.

As Mrs. Edwards pointed out, the McCain health plan would do nothing to prevent insurance companies from denying coverage to those, like her and Mr. McCain, who have pre-existing medical conditions...

Paul Krugman is one of the founders of the "new trade theory", a major rethinking of the theory of international trade.

Links and sources
  "Voodoo Health Economics", New York Times, April 4, 2008

Posted: April 08, 2008

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