Many people have argued about the "mandatory" and compared this insurance to automobile accident insurance. Below I recount my own experience with automobile insurance.
When I first got my own automobile and insured it, my insurance was cheep. I paid less than $80 a year for Geico insurance in New Jersey. That included comprehensive, maximum liability, uninsured motorist, and collision. Then New Jersey decided to have mandatory insurance. Under the new rules requiring all companies to cover to accept drivers from an a pool of motorists who could not find insurance, GEICO decided they could no longer make a profit in the state and left. I had to find new insurance and paid over $500 a year for my new insurance.
Now I am insured in the Federal Employee Health Benefit plan. I am over 60 with diabetes and high blood pressure. I had to take a medical retirement. I fully expect the Senate bill will impose taxes on my "high" end insurance. Further, I expect the caps to be reduced and my rates to be increased. How much? Who knows.
Making insurance mandatory and then putting public dole behind the insurance for very poor families is bound to increase rates, just like automobile insurance rates in New Jersey went up for me. A form of public - say medicare for all - insurance is needed.