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View Diary: Latest republican outrage: PPACA cancels "junk insurance" plans (35 comments)

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  •  They had to "reveal" those things (1+ / 0-)
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    Victor Ward

    there are laws that say they have to tell you up front what they will or won't cover.  You can READ and see what they will or won't cover.  

    If you are young and healthy, and you go to the doctor twice a year, do you want a $100 a month plan that kicks in over $5000 and covers up to $250,000 (what are the chances you'll even use it -- pretty low) or a $400 a month plan that covers a whole bunch of stuff that you likely will not use, either?  If you got hit by an uninsured truck and couldn't pay health care bills over $250,000, you might be willing in that situation to declare bankruptcy, but you might be willing to run that risk if you are 30 and don't own a house or have a lot of assets.  

    If you don't use much health care, sometimes those plans made sense.

    Yes, there were people who bought them because they could not afford anything else.  But there were also people who bought them after a calculated financial analysis -- some of our employees, for example, WANTED very very high deductible plans that almost certainly would not pay anything unless there was a catastrophic event, because the premiums --- even their share -- was much lower, and they had a HSA (pretax dollars) to pay the out of pocket costs.  

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