Message #171

[wbcoleman]

Alright, it looks like Obamacare is here to stay.  Given that fact lets go over the key provisions:

1. Everybody MUST buy a government approved health insurance policy.
2. Anybody failing to buy said policy will be subject to a financial penalty.
3. The amount of the penalty is very low, much lower than the cost of the premiums.
4. If a person fails to pay the penalty there is no provision to go after that person.
5. Insurance companies must write a policy for anyone asking, even the terminally ill.
6. Insurance companies cannot drop coverage for a person unless he or she dies.

Given all that, my question is: Why would anyone buy insurance unless he or she were sick?  Put another way; why would anybody pay monthly homeowners insurance premiums if they could wait until the day after their house burned to the ground to get coverage?

Instead of paying a thousand dollars a month for family coverage why wouldn't I just drop my coverage completely and pocket the savings?  If I got sick or hurt, couldn't I just call up the insurance company, make them write me a policy and a check to the doctor, and then when I felt better drop my coverage and do it all over if I got sick again?

I also wonder why any businessman would remain in the health insurance industry if they lost money on every customer.

I just contributed $250 to Mitt Romney.