The plan has some merit but suppose you and your wife are dragged into an ER unconscious following a car accident. By the time either of you is able to apply for/sign for/pay for insurance you’ve run up a six figure hospital bill.
Now what?
Now what? Chapter 7. F’em.
The plan has some merit but suppose you and your wife are dragged into an ER unconscious following a car accident.”
Just confining my response to this one specific possibility - I have been in auto accidents before and my auto insurance paid as primary, not my medical insurance, and the auto insurance company paid my hospital bill in full. Of course, some people may not have medical coverage included in their auto plan.
If I thought they’d respect it, I’d tattoo “Just let me DIE!” on my chest.
Now what?
if you have very deep pockets, you pay up. If you're like most of the rest of us poor schmucks, when discharged from the hospital, you go straight to a good bankruptcy attorney.
Remember, too: The article's author assumes that one must pay the penalty, and factors that into his calculations. In truth, all that is necessary to avoid the penalty is to decrease withholding or estimated tax payments to insure that there will be no refund. The IRS can only collect the penalty from refunds. They cannot garnish your wages, place a lien on your property or take your savings or banking accounts, or for that matter file criminal charges. They can roll the penalty over to the next tax year, and add interest, but under the current law cannot do anything but collect from refunds due.
If the GOP had any sense (sigh ... I know, I know) it would be blanketing the airwaves with ads on programs aimed at younger Americans. These should convey a simple, truthful message: consider what the government may and may not do if you incur a penalty, and what you can do to avoid paying it.
Is going without health insurance risky? Of course it is. One out of every 500 or 1000 will suffer some major illness or injury and, while they will be treated even if they cannot get enrolled in time, they will spend a lot of time in the months and years to follow dealing with lawyers and collection agents, and clawing their way back from bankruptcy. But the vast majority will be far better off, financially, if they don't purchase insurance. And if enough of them don't, this ugly, unconstitutional monstrosity collapses.
And if they don't have health insurance, they might just decide to adopt a healthier lifestyle.