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View Diary: HCR Part II:  Where Do We Go From Here, Sweet Child 'O Mine? (53 comments)

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  •  Older folks will have a greater (1+ / 0-)
    Recommended by:
    jim bow

    incentive than younger folks to wait until the last minute since their premiums are higher but their penalties are no larger than for young people.

    •  I disagree (0+ / 0-)

      Older people need care more often.  Also, older people will see their premiums fall while younger people will see their premiums rise because the ratio of premiums is much larger than 3:1 for a 64-year-old to a 24-year-old.  It's more likely that a 27-year-old bachelor waits until they get sick since they can than an older adult.

      •  Doesn't that depend on the state? (1+ / 0-)
        Recommended by:
        jim bow

        Here in CA, as a woman in my 50s, I pay about $300/month for an individual policy with a $4k/year deductible.

        Under the various cost calculators and estimates, my insurance rate will either double or triple under the new plans. Since I'm self-employed, I'm not sure whether I'll qualify for subsidies once they begin in 2014, but I do know that if my health insurance costs exceed $6k/year, I'd probably drop it and pay the penalty, given that if I were to get sick I'd have guaranteed issue.

        Your scenario (older people paying less) might be the case for non-healthy older people, or people living in certain states, but probably not for folks like me.

        In any case, thanks for the informative diary.

        •  Definitely true. Good point. (0+ / 0-)

          For those who are healthy and in the individual and small group insurance market who have limited benefit plans and whose premiums are actuarially justified (as in 31 states), they will likely see their premiums rise dramatically as they will be required to buy much, much more coverage and at the same rate as someone who uses their health insurance a ton more.

          For those whose states already have tight community ratings but no individual mandate (New York, New Jersey, Vermont, and Maine) and who already have policies with 60% AV, they probably will see their premiums fall, although we do have to look at mandated benefits.

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