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And They Call This 'Speculation'?

Chicago Board of Trade offers world's first health insurance futures contract.

By George Gendron | 
 

The Chicago Board of Trade has announced plans to offer the world's first health-insurance futures contract. The contract will allow investors to bet on whether premiums for policies underwritten by various commercial-insurance carriers will rise faster than paid claims.

"A Bush-administration panel predicted yesterday that health-care costs will consume a 'stunning' one-third of the nation's total economic output within 30 years."

-- From the Boston Globe, December 20, 1991

"Interesting." -- George Bush's response to his panel's report