We just went through the insurance buying process in MA in November. You do NOT have a choice. If you didn't buy insurance before the end of the year, you'll see a surcharge on your MA income tax form of $216. If you still don't have it after the next year, you'll get an even bigger surcharge; about $1800 per couple. Apparently, Romney's original plan called for the ability of folks to 'opt out' of having to buy insurance, only if they posted a $10,000 bond in the event that you had to go to the ER. The Dems in the legislature didn't let that stand. Business Week has an article about it that explains the fines.
It turned out to be a good deal for us because SirKit is self-employed. However, the cost of the most bare bones policy we could get, with a high deductible was still over $700 a month. When we move to MS, the same policy will cost about $450 a month. We opened an HSA to cover those things we chose not to cover, including dental and prescription coverage. Not sure about dental, but prescription coverage would have cost us another $1800 a year. We weren't sick enough at the time to need that kind of coverage. However, on Christmas Day, I ended up in the ER in A-Fib, ended up being admitted for a 5 day stay. Had several tests because of reduced heart function, and went home with 6 different heart meds. Thankfully, ALL of them were available through the Wal-Mart $4 prescription program!
The biggest problem we found with the MA program is that you cannot choose just a catastrophic insurance plan and use the HSA for out of pocket expenses. The Dems would never have allowed that.
I was previously corrected and rightly so. My apologies.
“The biggest problem we found with the MA program is that you cannot choose just a catastrophic insurance plan and use the HSA for out of pocket expenses. The Dems would never have allowed that.”
What you were seeking to do in the above is so simple, it seems to me to be the answer. Obviously, what do I know.
The only thing I do know is that government sucks.