But if someone is selling insurance that is cheap and covers nothing wouldn’t someone else sell a better policy and you could buy that? People who buy my products already know that there are much cheaper brands on the market but they don’t hold up.Wouldn’t the same principle be true for insurance.?
Yes, except breaking a cheap fishing rod isn’t the same as joining a class action suit to sue a fraudulent insurance company, after you lost your house to pay medical bills.
I think a little consumer protection is a good thing.
Having seen the evidence, I also changed my mind about benefit mandates compared to cafeteria-coverage. Most of them cost peanuts in the big picture except for mental health and chiropractic care. They are expensive, but you should be able to have them added on.
The benefit mandates help policies cross-subsidize each other within the risk pool, and added only about 1.5% to a stripped-down policy. Additionally, it got rid of so much paperwork and bureaucratic overhead generated by the no-two-alike policy writing....just one basic package.
You may say “every percent counts” but when we are talking about the 150 to 200% premium increases being forced by Obama/HitlaryCare....it’s really nothing.
People who buy my products already know that there are much cheaper brands on the market but they don’t hold up. Wouldn’t the same principle be true for insurance.?
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I believe it would be true for insurance. People can be discerning consumers if they are allowed to be ... free market forces do work. Even when not given the choice (Obamacare), many can still do the math ..... absolute tyrany when the government tries to force you to buy something that will bankrupt your family & STILL not provide health CARE and then fines you for choosing not to financially cut your own throat.
Why the Obamacare 2016 Open Enrollment Stalled: The Big Unwritten Story About Obamacare—How Unaffordable It Is For the Working and Middle Class
http://healthpolicyandmarket.blogspot.com/2016/02/why-obamacare-2016-open-enrollment.html
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No, they didn’t “hit it out of the park” this year with enrollment, as claimed by HHS et al. With this administration, if their lips are moving, they’re lying.
Obamacare Hits 12.7 Million Enrollments—But Only Grows 8.5%
http://healthpolicyandmarket.blogspot.com/2016/02/obamacare-hits-127-million.html