Obama Care

[saden1]

Originally Posted by JoeRedskin

For the 260 Million insured, it is contradictory. For the portion of the 47 Million of young healthy adults who have no health issues (estimates run between 15-25 Million), it is a contradiction.

As I have argued before, by creating a governmental insurer of last resort, you will be creating an entity that will either a) be so cost inefficent as to be a huge money pit; or b) a system that will be just competitve enough to drive out similar private systems and make the more comprehensive plans affordable to only the wealthy.

Why is it contradictory? Unless you know something I don't it seems to me that you can keep whatever you have.

• Insurance exchange | The bill would set up a new national health insurance exchange, a marketplace where individuals who do not have employer-sponsored insurance would be able to shop for plans. The exchange would also be open to small businesses, and more would be able to join each year. Companies with 25 or fewer employees would be able to join in 2013, companies with 50 or fewer employees could join in 2014, and companies with fewer than 100 employees could join by 2015.
• Public insurance option | The health insurance exchange would include a government-run public plan. Federal officials would negotiate payment rates with doctors and hospitals that accept the plan.
• Employer mandate | Employers with annual payrolls greater than $500,000 would be required to either provide health insurance for their employees, or contribute 8 percent of their payroll to a federal fund to help subsidize employees who purchase coverage through the exchange. Employers with payrolls less than $500,000 would be exempt from the mandate.
• Individual mandate | Individuals will be required to purchase health insurance, or pay a penalty fee. Some people would be eligible to apply for a hardship waiver.