Has Your Health Insurance Been Cancelled by Obama?

[Ben Kenobi]

If insurance companies only cover catastrophic care, then they collect far less in premiums. If they collect far less in premiums, how do they pay for catastrophic care?

They would also pay out far less.

[Hauldren Collider]

You missed my point. If insurance companies only cover catastrophic care, then they collect far less in premiums. If they collect far less in premiums, how do they pay for catastrophic care?

I'll leave this as an exercise for you, friend. This is a rather easy question.

Edit: Okay, I'm feeling generous.

1. Catastrophic care costs less. Less premiums, but also less expenses.
2. They can just raise prices if it's too expensive...duh? But mostly 1.

[MikeH]

In the UK it used to be cheaper to insure your car for only third party, fire and theft, than for comprehensive cover (the car equivalent of catastrophic medical cover).

Then lots of people started going for that as a cheaper option, now many insurance companies quote MORE for third party than for fully comprehensive cover, because they claim people who want third party are likely to cost more.

So I imagine the medical insurance companies will continue to do whatever they could to maintain their profits at the expense of their customers, as always.

[Lorizael]

I'll leave this as an exercise for you, friend. This is a rather easy question.

Edit: Okay, I'm feeling generous.

1. Catastrophic care costs less. Less premiums, but also less expenses.
2. They can just raise prices if it's too expensive...duh? But mostly 1.

Yes, they can just raise the price. And I suppose people prefer to have only catastrophic coverage because they like the sound of the word catastrophic.

[Sava]

Medical insurance is such a dumb idea. Just have the government pay for all doctor visits. That way poor people will go to the doctor and there's no expensive middle man.

This.

[The Mad Monk]

Yeah, easy.

Except that the ramrodded bloated abortion of a plan is already law, so don't expect anything new anytime soon.

Congratulations.

[Ben Kenobi]

Then lots of people started going for that as a cheaper option, now many insurance companies quote MORE for third party than for fully comprehensive cover, because they claim people who want third party are likely to cost more.

Wouldn't this prove HC correct that catastrophic coverage is actually cheaper?

[MikeH]

Learn to read.

[Imran Siddiqui]

Yeah, easy.

Except that the ramrodded bloated abortion of a plan is already law, so don't expect anything new anytime soon.

Congratulations.

You don't think the ACA makes Single Payer more likely in the near future? It's kind of like a stepping stone, I'd think.

[Sava]

Yeah, easy.

Except that the ramrodded bloated abortion of a plan is already law, so don't expect anything new anytime soon.

Congratulations.

The ACA, when compared to the idiocy of the private insurance industry, is very benign.

You need to stop believing everything you see on TV.

[Guynemer]

I highly doubt that, Imran.

[Sava]

You don't think the ACA makes Single Payer more likely in the near future? It's kind of like a stepping stone, I'd think.

This is what Obama and his surrogates were selling to liberals. I also doubt it.

The ACA is a band-aid to the current system.

[Aeson]

I stand by the statement that I made--that most people would be better off if their insurance only covered risks that they can't afford.

You said "catastrophic", not "risks that they can't afford". The point you're missing is that a lot of people can't afford even basic healthcare costs when they are unexpected. (And expecting all of them to somehow magically become excellent actuaries and be able to make reasonable expectations about the future costs of their non-catastrophic healthcare means you're one of those people with unreasonable expectations too ...)

[DinoDoc]

You don't think the ACA makes Single Payer more likely in the near future?

If it were successful, yes. That ship seems to be in the process of leaving the dock though thanks to governmental incompetence. If it continues to fail, I doubt you'll get an appetite in the public for yet more governmental control. When they barely allowed this to be passed.

[kentonio]

I think DD is right. If this goes sour then you guys are going to have to live with a private insurance based healthcare system for at least another generation.