Here Michael Eades, M.D. offers some wisdom on O’Care.
One of the central pillars of Obamacare is that people with pre-existing conditions can get insured easily and at essentially the same rates as those without the pre-existing condition. This means that those of us who have no pre-existing conditions will end up paying more to compensate for the higher expected insurance payouts needed to cover those who do have pre-existing conditions. Insurance companies are required to pay out a fixed percentage (which is much higher than most people think) of their premium income. So if they are going to be paying out more – which they certainly will if they are forced to take on people with pre-existing conditions – the only way insurance companies can compensate is to charge those of us who don’t have big payouts a lot more. Which is what Obamacare has done. There’s no free lunch, no matter what is decreed from Washington. The higher health care needs of the sick and the old will be borne on the backs—and out of the wallets—of the young and the healthy.
So, if you are healthy, just go without insurance. Pay the $95 fine, which you have to pay only if you are getting back a federal tax refund. If something bad happens to you, God forbid, then go on one of the Obamacare plans and sign up. Simple as that.
You can’t be denied for any sort of pre-existing condition. And your rates won’t be affected. So why pay for insurance until you need it? Obamacare has effectively removed the main incentive for the young and healthy to opt in responsibly to avoid bankrupting themselves or becoming a drain on their families or neighbors should catastrophe strike.