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Insurance hedges its bets

If you want an example of how big, powerful interests will shift their political money, look no further than the health insurance industry.

Two years ago, the industry spent millions on politicians, many of them Democrats, in the run-up to health care reform. What they really, really wanted – and what they got – was a mandate in the reform package requiring everyone to have insurance.

That spreads the risk and, in theory, lowers costs, because you’re not just insuring sick people.