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Market Forces, or Market Forcing?

March 18, 2014

I had a relative years ago who decided not to get the health insurance that his company offered him.  He figured having the extra money was better, and that he wouldn’t need the insurance.  Luckily he didn’t get into any car accidents, and these days he has insurance… though I’m sure he’d prefer to pay less.

I also had a good friend who recently decided to take the money he would have paid in insurance for the family and instead bank it.  The whole family went over two years without insurance.  When his wife became ill and needed surgery, he had the cash available and actually ended up negotiating with the cash he had to take care of her.

Both of these are not what some would consider wise, but the outcome was good.  So is it any wonder that people like this, and there are many of them, don’t particularly want insurance?

According to the survey done by Bankrate.com, of the 34 percent who say they won’t purchase Obamacare, 41 percent said it was too expensive, 17 percent were against the Affordable Care Act and 13 percent said they were healthy enough not to need coverage.

So, I’m not surprised, especially since the government has taken all the teeth out of the individual mandate.  I won’t get into whether the system ever would have worked, or if it will now.  At this point, the law has very little teeth to actually get people to buy insurance, and that’s probably good for the people.

Ed Morrissey still hopes that this is another in a series of death blows for the law.  I’m clearly not a fan of the law, mostly since it’s collecting money to do very little, and I’m not a fan of tax waste… if you’re going to use my money for the common good, can it at least have a decent result?

I still think that the biggest problem is the regulation of the policies.  People would be a lot more amenable to a set of policies that start with a high-risk, high-deductible policy that pays for little standard care.  Or a strong saving account plan like an HSA.  Or, well, options.

So while the administration dithers over its signature accomplishment, people just say, “meh.”

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