"The whole point of insurance is that we all get screwed a little, so that when someone gets really fucking boned, they don't get screwed sideways on top of it."
Yes, and that would be fine & dandy if the risk pool were homogeneous. The members of each pool would pay a little in excess of their expected return (benefit), in anticipation of that rainy day.
But that's NOT what's happening with post-obamacare "insurance"! The law outlaws whole classes of risk pools, instead mandates lumping people from old & sick to young & healthy into one. That means exactly that the latter are being forced to subsidize the former. The young systematically overpay and the old systematically underpay for their respective risk profiles. That is not insurance, that is generational wealth transfer!