Why Would Any Family Buy Health Insurance Under the Baucus Bill?
I will suggest the answer is that they will buy it when they need it. No sooner. Even in 2017, a family with two adults would pay no more than a $1,500 annual fine against a premium that would be $4,000 to $10,000 a year in these middle class income brackets.
[But if medical need arises], any consumer could simply go to the health insurance company and demand to be covered under any one of the mandated benefit plans. No medical underwriting before getting in and no pre-existing condition limitations. Just sign the application and go to the doctor.
This is Bob Laszewski at his blog.
Good question. And the right answer. No one would buy insurance until he anticipates medical bills that will need to be paid.
Why do they call it insurance? If I don’t have to buy it until I get sick, that isn’t insurance.
This isn’t rocket science. Of, course they will buy it when they need it. What else do you expect people to do?
I prefer to call guaranteed issue plans “sickness pools.”