An explanation for Oerdin's magical Obamacare premium drop

[Ogie Oglethorpe]

It was the only way to get increased coverage. I'm sure some in the administration would have loved to go to single payer, but there is absolutely no chance in Hell that gets through Congress.

Given the end result is that most indications (CBO estimates) are that there will be more uninsured post Obamacare than before it was enacted, the changes seem for naught and at enormous societal expense.

[Imran Siddiqui]

Out of curiosity, what's the incentive for these healthy young folks to get insurance in the post-Obamacare era since there's a ban on excluding people from coverage due to pre-existing conditions? Why not just get a policy when you get sick?

Wasn't this what the entire fight over the mandate was about?

And yes, before you say they'll just pay the penalty, a) I doubt many folks will decide to pay the penalty over getting the cheapest insurance, b) at least its something.

[regexcellent]

Out of curiosity, what's the incentive for these healthy young folks to get insurance in the post-Obamacare era since there's a ban on excluding people from coverage due to pre-existing conditions? Why not just get a policy when you get sick?

That is exactly what I plan on doing.

[kentonio]

I find it absolutely mindblowing that healthy people would rather go without insurance and risk a single bad accident or unexpected serious illness completely destroying their future, rather than just pay into a national health scheme. It beggars belief, it really does.

[regexcellent]

What part of "non-exclusion of pre-existing conditions" don't you understand? Moreover, you don't have to understand why people would choose to go without health insurance, and instead spend that money on other things. It's not your business what anyone else chooses to do with his money.

[rah]

If I have a heart attack where they're required to crack my chest, and no insurance, I could be financially ruined before I get the chance to buy insurance.
Wait DOC, don't crack my chest until I can quickly buy insurance and get them to approve it.

There is a big risk in not having insurance.

[Patroklos]

Chronic conditions are breaking the backs, not acute. In your case the chest cracking isn't what would break yours, but rather the year of following care.

[DinoDoc]

Wasn't this what the entire fight over the mandate was about?

And yes, before you say they'll just pay the penalty, a) I doubt many folks will decide to pay the penalty over getting the cheapest insurance,

6 million and counting are expected to opt for the penalty...

Under the law, Americans must be insured starting in 2014 or pay a penalty assessed on their tax returns.

Shortly after the legislation passed in 2010, the Congressional Budget Office, working alongside the Joint Committee on Taxation, estimated that in 2016 roughly four million people a year would opt to pay the penalty instead of getting coverage. On Wednesday, the CBO and JCT revised that figure up to six million, citing legislation passed since 2010 as well as the weaker economic outlook.

Of those people who opt for the penalty, 10% are projected to be below the federal poverty level for 2016, which the CBO and JCT estimate will stand at about $12,000 for an individual or $24,600 for a family of four.

In 2014, the penalty will be no more than $285 per family, or 1% of income, whichever is greater. In 2015, the cap rises to $975, or 2% of income. And by 2016, it reaches $2,085 per family, or 2.5% of income, whichever is greater.

The dollar amounts for a single adult would be $95, $325 and $695 during that same time period.

[kentonio]

What part of "non-exclusion of pre-existing conditions" don't you understand? Moreover, you don't have to understand why people would choose to go without health insurance, and instead spend that money on other things. It's not your business what anyone else chooses to do with his money.

Rah already covered the pre-existing conditions part, but it's a fantasy that it's just a 'choice' of what to spend your money on. Who exactly do you think ends up paying when you're unable to work, and need welfare to feed and house yourself?

[regexcellent]

Rah already covered the pre-existing conditions part, but it's a fantasy that it's just a 'choice' of what to spend your money on. Who exactly do you think ends up paying when you're unable to work, and need welfare to feed and house yourself?

The implication I was going for was "nobody, it just ****ing sucks to be you"

[Ben Kenobi]

BC is all kinds of ****ed up.

I'm glad we agree on that.

The plight of British Columbians must be terrible to suffer such injustices. It's certainly comparable to people being bankrupted by obscene and absurd medical bills in the US.

It could be worse they could be Albertans.

[BlackCat]

This thread is funny as usual when young people argument that due to their health, they don't have to pay. "oh, I'm young and healthy, so I don't need health insurance" - 30 years ahead - massive whining about costs for medic care.

Paying for health care is a long investment that pays of when you get old and really need treatment.

[BlackCat]

WTF? - double post.

[self biased]

WTF? - double post.

jonmiller.

[Imran Siddiqui]

6 million and counting are expected to opt for the penalty...

I'm guessing when it goes up to $325 (and then beyond) a lot of folks are going to be looking to getting insurance. It may be costing them more per month, but at least they'll get something out of it rather than having their taxes get chopped by that amount ($95 won't do too much, though, I agree).