Risk-Sharing

Ronald Brownstein has an eye-opening article on the problems with McCain's healthcare plan:

McCain's approach would save people money when they are young but expose them to greater financial and health risks as they age. It repudiates the essence of insurance, which aims to spread risk not only across the population but across an individual's lifetime. Obama is wrong to portray McCain's plan as a tax hike. And the Democrat's alternative raises its own tough questions, especially about cost. But Obama does not exaggerate when he says that his rival is offering a "radical" new vision of how Americans can safeguard their health.