AP/Bloomberg carries water for right-wing on healthcare.

AP/Bloomberg carries water for right-wing on healthcare.

Imagine that:

Health insurance rates in Ohio will rise an average of 18 percent for small businesses and 41 percent for individuals participating in the new marketplaces created by the federal health care law, state insurance officials said Thursday…

The agency’s analysis found that the current average monthly cost for individuals was $236.29, compared with an expected average rate of $332.58 next year.

See what they did there?  They compared the average COST vs. next year’s average RATE.  I.E., the comparison of what people are actually paying for an item, vs. the price of all items next year – regardless of the actual cost due to what people actually purchased.

For example: This year, people go to car dealers and 3/4 of them buy a $20k car, and only a quarter buy $50k cars.  So the average COST to consumers is $27.5k.  According to Ohio’s Department of Insurance, if the dealer decided to stock 50/50 both car models next year, the average PRICE (known as RATE for insurance) will be $35k next year, even if people still decide to buy the cheaper of the two cars.

You would think a business magazine would know the difference.  But you (likely) live in America, in which case, you’d be wrong.

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