Rate for a lifetime . . . :
The risk to supplying health insurance must be rated in terms of the beneficiary's lifetime - not the next year.
The risk each individual citizen presents in terms of lifetime cost must be calculated as to each individual.
The risk each individual citizen presents in terms of lifetime cost must be reduced to a present value.
The concept of insurance pools is without merit: except perhaps as our country is a pool.
Risk can not be reduced by spreading it around.
It is not possible to rate an individual’s likely health insurance costs for a 364-day calendar year.
The cost of insurance can not be realistic assessed unless the insurance risk for each individual is calculated for the balance of the beneficiary's lifetime.
Here’s the proof . . . :
Consider the case of a very healthy 40-year old who is quoted $50,000 for a lifetime health insurance policy.
If the same individual suffers exposure to a debilitating virus and acquires a new 1-year life expectancy: the new quote for a lifetime health insurance policy will be reduced to $30,000.