Does HHS Secretary Sebelius understand the concept of insurance?

Apparently not, according to Megan McCardle writing in the Daily Beast. This is what Sebelius said about those of us who purchase health insurance plans that don't cover routine health issues: At a White House briefing Tuesday, Health and Human Services Secretary Kathleen Sebelius said some of what passes for health insurance today is so skimpy it can't be compared to the comprehensive coverage available under the law. "Some of these folks have very high catastrophic plans that don't pay for anything unless you get hit by a bus," she said. "They're really mortgage protection, not health insurance." McCardle sets her straight: She said this in response to a report from the American Society of Actuaries arguing that premiums are going to rise by 32% when Obamacare kicks in, as coverage gets more generous and more sick people join the insurance market.  Sebelius' response is apparently that catastrophic insurance isn't really insurance at all--which is exactly...(Read Full Post)