Better to get fined and go uninsured?
Recently published research, Forbes, Nov. 4, indicates that the Affordable Care Act health insurance premiums will increase on a national average of 41 percent. The new health policies, with the required ACA health requirements, are also offering reduced networks of doctors, clinics and hospitals with an increase in deductibles.
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Illinois rates will increase on average 43 percent, while New York decreases 40 percent and Nevada increases by triple digits.
Unless you are a state of Illinois pensioner, raises and cost of living have increased less than 3 percent per year. With the dramatic increase in health care premiums how can an individual/family afford the ACA?
Everyone needs a shelter so mortgage and rent payments will be made promptly. Student loans repayments, saving for college, contributions to a 401(k) or purchasing a new home could be delayed. Big ticket purchases like automobiles, refrigerators and large flat screen TVs could no longer be a priority.
The area in the monthly expense that could be removed is the health care premium invoice. With thousands of dollars in deductibles, which must be satisfied before the co-pay of insurance begins, is the premium payment worth the additional expense? President Obama, Senators Harry Reid and Dick Durbin and Representatives Nancy Pelosi and Bill Foster by approving the ACA without first reading the legislation have done exactly the opposite of how the ACA was envisioned.
Instead of having individuals/families applying and receiving health insurance, these people must decide if it is better to have health insurance or become part of the uninsured and only pay a ACA fine?