Sebelius: Americans Don’t Like Obamacare Because their “Financial Literacy is Low”
Photo Credit: J. Scott Applewhite/AP
Discussing Obamacare with a USA Today reporter, former Health and Human Services Secretary Kathleen Sebelius blamed many of the law’s problems on the fact that Americans lack her sophisticated understanding of insurance:
Still, Sebelius didn’t dispute the point that many Americans don’t fully understand how health insurance and the Affordable Care Act work, including the trade-offs involved in expanding coverage.
“A lot of Americans have no idea what insurance is about,” she said. “I think the financial literacy of a lot of people, particularly people who did not have insurance coverage or whose employers chose their coverage and kind of present it to them, is very low — and that has been a sort of stunning revelation. It’s not because people hid it from folks. It’s because this is a complicated product.”
Sebelius served as insurance commissioner for the state of Kansas before epically botching the roll-out of a federal entitlement program in historic and ostentatious fashion. So, she knows a thing or two, America.
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