A business school professor I had used to marvel at the amount of opinions held with little or no analysis to back them up. Pretty rampant in the ongoing health care debate. Seems many “informed” citizens need a refresher in adverse selection. The term is insurance industry vernacular for a situation in which only those who will actually use a certain type of insurance are those most likely to buy. Obviously, insurance companies want adverse selection held to a minimum so the risk is more evenly spread. If those who buy insurance are only those who will use the insurance, obviously the business is unsustainable.

Enter the arguments over pre-existing conditions, and whether or not companies should be forced to cover them. According to the survey highlighted in today’s “Boomer Behavior,” 97 percent of boomer women agreed that coverage for pre-existing conditions should be guaranteed.

And every morning, I think gumdrops should fall from the sky.

If health care reform means pre-existing conditions are covered, why buy insurance in the first place? I’ll wait until I get the condition, and then go get coverage for it. It takes that pesky insurance part out of insurance reform. Insurance guards against the risk of getting a disease, not the disease itself. Just because you might never get said disease doesn’t mean your money was somehow wasted. You paid for the peace of mind that comes with insurance coverage. These are all extremely basic points – insurance 101, if you will. But education on these basic points is in dire need. That’s where the real reform should begin.