Question by Neda: Do the old consume too much health care?How should health care resources be distributed across the population?
What are each generations obligations to those before and those after them? Do the old consume too much health care? What is too much? How should health care resources be distributed across the population? Should health care be explicitly rationed on the basis of age?
Answer by Finnegan
Interesting question. How many young people, say 30 and younger have paid into a health insurance plan since they were first employed? How many of these have had extreme health issues that otherwise would have wiped them out? Truth is, and the insurance companies know, is that the youth have *always* subsidized the elderly because statistically,one is more likely to need to *use* health insurance when one is older, than when one is younger. So, younger folks premiums go to the cost and care of those who are older. In a way, not unlike a Ponzi scheme.
Is this bad? In strict terms of the youth subsidizing their older compatriots, no. But when it gets dicey is that the youth get old eventually, and when they get their insurance revolked because of a pre-existing condition, or, they have become too expensive to cover and subsequently get cancelled by their health insurance company, that’s when it becomes criminal.
So, short answer, no. There should be a Public Option that ensures the health care of everyone.
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