I put this in GD because there will be a debate on the answer to my question.
If I understand the bill that will be passed:
- You MUST buy health insurance
- An insurance company may not deny you for a pre-existing condition, nor charge you a higher rate
- There is no public option, or any type of government control to set prices
Doesn’t 1 and 2 guarantee higher prices? I am old enough to remember when auto insurance became mandatory in most states. Costs skyrocketed.
And pretend that State Farm had to insure your drunk next door neighbor’s 22 year old kid with 8 DUIs and they had to charge him the same rate as you.
How can prices not skyrocket? How can the small business owner not be floored with the new price of his health insurance premium? Or the healthy contract worker who is now buying a private plan?
I understand that this will be helpful to a person who has had heart disease or cancer in the past, and currently can’t get any insurance at all. I really am only concerned in this thread with the out of pocket costs for the average Joe.
In other words, if I am forced into a pool with people who are near death from health problems, how can my monthly payments NOT increase? And since that, by law, I must buy into the system, that will make them increase even more, perhaps to a level that I can afford.
What if my family’s premium came to $5000 a month? Would I be a criminal if I didn’t pay?