Many people would agree that the Mandate to buy Health Care insurance is the most important element, in the Bill, to eliminate. But, does that really make sense? Suppose you, as a safe driver, have never been in a traffic accident. Chances are that you do have Auto Insurance to cover damages in the event you have an accident. How would you feel if your car was hit by another and that driver did not have insurance?
You should want insurance, in general, to be the worst investment that you will ever make. That goes for Auto, Life, Home, etc. The concept of Insurance is based on the “Law of Big Numbers”. The payments of all policyholders pay the claims for those who actually need it. It’s too late to buy coverage after you have an accident, a heart attack or a fire in your home. The key point here is all of the policyholders pay for those who need it. But, next time, that might be you.
I recall that when one of the Republican Candidates for President, at a Debate, was questioned about what happens when someone who doesn’t have insurance gets sick. He said they would just go to the Emergency Room. Thus, the Taxpayers would ultimately be responsible for that person’s treatment. Is that fair?
How about the young GI returning from War in the Middle East? They often have to fight for health coverage from the VA for amputations, disfigurement or PTSD. Oftentimes, that would be necessary for life. So, how would they get Health Care Insurance with a pre-existing condition?
What about Young Women of Child-Bearing Age? If they get pregnant, that pre-existing condition would basically make them uninsurable.
Lastly, a sixteen year old, in South Florida, was preparing to go scuba diving with a friend. In preparation, the friend was loading a speargun and, by mistake, pulled the trigger. The spear went through the sixteen year old’s skull, pierced his brain and was sticking out the back of his head. Pre-conceived condition!
Insurance is designed for responsible people to have the insurance company pool the premiums to pay the claims for those who need it. It is best to get Health Care insurance when you are young and in good health. Later on, it might be too late. And, for those who avoid buying it, they are expecting the Taxpayers to cover their claims.