Why Are People with Health Insurance Going Bankrupt?

[zipplewrath]

16. Fixes old problems, ignores new ones

Look, there are some "good" things in it, like preventing pre-existing exclusions, and coercing many employers to provide group health insurance. The CHC's aren't bad either, presuming they can keep them funded. But these were solutions to "old" problems.

Employers often "wanted" to provide health insurance, but let's face it, it is expensive. Employers knew it could be good for attracting and keeping employees, but in the end it was becoming very expensive. coercing them just ignores why they weren't providing it in the first place.

And the insurance that already was being provided, was becoming more "expensive" to the insured. Co-pays, deductibles, and out of pocket limits were climbing fast. There was no shortage of the "bankrupt insured", people with insurance that couldn't afford the health care.

By the time ACA came along, employer based health care was a "last millenium" idea. It was the "Teddy Kennedy Memorial Solution" to problems that had long ago worsened to a point where new solutions were needed.

Truth is, "insurance" and health care are no longer really compatible. Insurance is a form of gambling. You pay for something you might not need, in hopes of getting more than you paid for if you do need it. With my auto insurance (so far) I've paid several multiples of any claims I've made in my life. I'm sure there are those that are making up for that. But with healthcare, pretty much everyone is going to have regular "claims". It doesn't really fit under the insurance economic model. It's an extended payment program with some catastrophic insurance features built in.

ACA tried to expand basically an insurance program, based upon an outdated economic model of health care. Give it 15 years and the cost of the care will cause a collapse of the existing system.