Interesting idea. I’ve got another - most insurance contracts run on an annual basis. What would be improper about allowing the free market to reign, and allow people to re-new, or not re-new the following year. Oklahoma law (and most states are the same) makes illegal for an insurance company to cancel a policy post injury/illness. That was part of the risk undertaken by the Company. For example, if I develop a condition during the insured period, the Company remains liable under terms of the policy as long as I continue to pay premiums.
Your thoughts?
I have empathy for those with preexisting conditions, but I don’t believe it’s the taxpayers responsibility, nor the duty of the federal government. A wise candidate (I think from Iowa) once said that a state’s job (not the federal government) is to educate, incarcerate, and medicate. I think he was correct. Health insurance (mistakenly referred to as healthcare) is best regulated by the states.
Ironically, what I am suggesting is far more conservative than the GOP plan. I’m trying to grapple with, as is the GOP leadership, is the negative political fallout from “pulling the rug” out from those with preexisting conditions who were promised coverage and would face, in some cases, a death sentence. Now, one could argue that they would have died anyway through their own irresponsibility but realistically, that’s just not going to fly. Sure, conservatives have to weather the charges of insensitivity continually but politically, this could be a really massive blow to the Republican Party. Though the GOP irritates and dismays me at times, there is no other viable Conservative party.
The negative press would be a tsunami wave of indignation. This is the pitfall as a result of unraveling a massive social program. I would rather have a purely market driven insurance industry and healthcare system, but we can only approach this process through a type of hybrid socialist/capitalistic transition. while transitioning from a socialistic insurance model to a capitalistic one. There has to be a way to ease this transition while ending up with an efficient system whose premiums aren’t sky high.
The GOP is hanfing onto the mandate but that is one thing that can’t be tolerated. The whole reason for the mandate is to have a pool large enough to pay for those already sick and not leave anyone out. What I am proposing is to give people a deadline so that we don’t add people with preexisting conditions going forward. Subsidies might need to be extended bit then sunsetted to ease the cost of premiums. This plan would work as long as regulations are eased.