Do you know whether the Obamacare will work or not depends on the - TopicsExpress



          

Do you know whether the Obamacare will work or not depends on the younger population for whom the future is theirs? For they dig more than we do, for with enough data, a statistician can comfortably predict the number of persons of a given age who will conceive a serious illness in a given year. With enough data, the statisticians can assemble all of this information into tables. For deaths, the tables are called mortality tables and for sicknesses they are called morbidity tables. And "Insurance" is based on two principles: risk transference and the law of large numbers. Risk transference, sometimes called ‘pooling’, involves the transfer of risk from the individual to a pool of the insurance company’s policyholders. The insurance company charges a fee, the premium (or part thereof), for accepting the risk and ‘pools’ the premiums from a group of policyholders into a general fund to fund the death benefits under contract.
Posted on: Sun, 25 Aug 2013 20:07:15 +0000

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