Posted on 11/10/2013 5:52:42 AM PST by IbJensen
Insurance creates an unnatural market place allowing prices to sky rocket.
I am a Hank jr fan. It is one of his older songs
This man with cancer and a premium of $180 is probably pretty normal. He needed coverage for a catastrophic illness he didn’t yet have when he enrolled in the policy and the insurance company underwrote his risk and decided to take a chance on him. That’s what insurance is. Transferring the chance of a risk that may or may not ever materialize from the policyholder to the insurer in return for premium payments. The premiums collected overall from all policyholders and held in reserves, in theory, will be enough to cover any claims or risks that actually materialize. In the case of Medicaid, portions of Medicare, CHIP or VA care, the federal government, meaning the taxpayers, pay for the care except for any co-pays required.
Just as your auto insurance is not designed to pay for new wiper blades or an oil change or for new tires or your homeowners insurance should not cover a visit by the plumber, small repairs or a new coat of paint, your medical insurance shouldn’t be used to pay for routine doctor visits, x-rays, lab work or most prescriptions. This makes the cost of the medical insurance go up dramatically. It should be reserved for big costs that the policyholders can’t cover themselves.
This ridiculous requirement under ObamaCare that EVERYBODY must have the same comprehensive coverage whether they need or want it, is part of the reason why the premiums for most folks are going to go up. And the fact that the government is trying to add 30-45 million uninsured new people also raises the premiums. And adding people with pre-existing conditions, which almost automatically will result in more losses to the insurers, will raise premiums. The hope that existing uninsured young healthy people will sign up for policies under ObamaCare is because they will pay for the old folks and unhealthy people who will use most of the care. People who are eligible for subsidies on the exchanges, get that money from the government via the taxpayers like you and me. So the taxpayers will continue to cover the costs of some people’s medical care whether it is under the old third party payer or under ObamaCare.
If the American people continue to use their medical insurance as a credit card to pay for every little nickel and dime cost in their medical care instead of for what insurance is truly designed for and that is catastrophic coverage for major injuries or illness to keep them from going bankrupt, we will continue to have this problem.
He had a healthcare plan that had paid for "just about everything" of his cancer treatment, including pharmaceuticals and medical devices like MRI. He had doctors whom he "loved" and his premium was $180 a month... like hundreds of thousands of Americans, got a cancellation notice from his medical insurance BECAUSE OF OBAMACARE... new health plan... premium will be $1,500 a month --- an increase of 833% from his old premium. An MRI under the new healthcare plan will cost $3,000 out of pocket. And so, Elliott has decided he will just pay the $95 Obamacare penalty by NOT getting medical insurance because "I won't put a burden on my family." He will "let nature take its course." In other words, he is choosing death. Bill Elliott had voted for the very man whose unAffordable Care Act is consigning him to an early death... has discovered, too late, that he's one of President Lucifer's useful idiots.
I heard someone refer to it as the difference between car insurance that covers repair in the event of an accident and some hypothetical car insurance that pays for oil, oil change, routine maintenance and even gas. The later would be ridiculously expensive.
Thank you. I've been trying to figure out your handle for years :-)
oh sorry
wasn’t trying to be inscrutable
No, it's not you. I just couldn't see it. Now that you've explained it, it's perfectly obvious.
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