Forbes defines a health insurance death spiral as “adverse selection” which happens when only high risk people buy insurance:
If only people on their death beds buy life insurance, the insurance company would quickly go out of business. Equally, if only sick people buy health insurance, the math will not work…
To reduce the risk of adverse selection, the Affordable Care Act created a penalty for people who do not enroll in insurance. However, the penalty for not having insurance in 2016 was the higher of $695 per individual or 2.5% of income. Although $695 is a lot of money, it is still cheaper than health insurance policies offered on the exchange.
That’s because ObamaCare rates are going up an average of 25% next year. And, according to the Wall Street Journal, that’s just “for the mid-level insurance plans that are performing the best, not the average increase of all ObamaCare coverage.”
That same WSJ editorial says President Obama took a victory lap for ObamaCare in Miami last week. He bragged about “all the progress we’ve made in controlling costs.”
CNN says ObamaCare woes will linger long after he’s gone.
Some critics say The Walking Dead went too far in its season opener. The episode featured violence with a baseball bat rigged with barbed wire.
Critics also say Donald Trump has gone too far as his reality show campaign season closes. The final episodes feature claims the election is rigged.
Rudi Giuliani says, “Dead people generally vote for Democrats rather than Republicans.”
Not to worry. The Russians have offered to monitor the election.
Cardinal Dolan had a “box seat” between Hillary and Trump at the annual Al Smith Dinner in New York. He said he was “moved by their interaction together”.
I had to wonder if he didn’t just want to move.
Al Smith V said the room got “a little uncomfortable” when The Donald said Hillary pretended “not to hate Catholics.”
Here are video highlights of their speeches.
Try not to notice Maria Bartiromo or the sweaty guy next to the podium.
Joe Scarborough dinged the media for freaking out over Trump’s refusal to accept the results of the election. But after spending the week saying the election is rigged what else would you expect him say?
Trump later joked that he’ll definitely accept the rigged election results if he wins:
“I will accept a clear election result,” Trump allowed. “But I would also reserve my right to contest or file a legal challenge in the case of a questionable result.” He cited the landmark 2000 Supreme Court case Bush v. Gore as precedent for needing to contest an election.
Here’s to hanging chads.
The thrill of victory was followed by the agony of debate last night.
Thrill of Victory
The Cleveland Indians won the American league pennant, shutting out the Toronto Blue Jays 3-0. Rookie Ryan Merritt went 4 1/3 scoreless innings in his second major league start.
Merritt got the nod because starting pitcher Trevor Bauer was the victim of a drone strike. A strike of his own drone. Bauer has always done things his own way, and this came as no surprise to anyone around here. So they sewed up his finger and sent him out to the mound for game three.
Bauer’s a gamer, but his sutured pinkie opened up like the elevator doors in The Shining. He never made it out of the first inning. No problem. Mad Manager Tito Franco stitched together a bullpen game and the Tribe won 4-2.
Back to Ryan Merritt, hero of Northeast Ohio. Someone found out he’s getting married, so fans bought everything on his wedding registry. But you could still get him a pillow last I checked.
Agony of Debate
Unfortunately all good things come to an an end and the final presidential debate was about to begin.
Moderator Mike Wallace asked about Supreme Court nominees. Hillary Clinton said the court should stand up for women and transgender bathrooms but not late term babies about to be aborted. She also said the court should overturn Citizen’s United (a Supreme Court case that said it’s okay for a company to make a movie critical of Hillary).
Trump said, “The Supreme Court – it’s what it’s all about.”
The clear winner … Chris Wallace.