LONE Profitable ACA Insurance CO-OP Losing Millions

originally posted by: amazing
One minor detail, is that there, by some estimated, millions of people have healthcare/insurance now that didn't before. That's the one key WIN for ObamaCare and why it was pushed on us in the first place. What about them?

With some bad luck, I could have been without health insurance last year when my son broke his arm and had to have surgery. it was tens of thousands of dollars. No way could I have been able to afford it...it might have been a tipping point to some serious financial ruin. Having health insurance is a big deal. When you don't have it.

It's higher than that. Most insurance plans weren't actually insurance by the legal definition set in the ACA. Cases used to happen all the time where people would get sick, hand over an insurance card, and then find out that the only thing their insurance ever did after all those premiums was to reduce the cost of your copay.

This is a big part of why costs went up. The ACA started mandating that insurance plans cover the things they're supposed to cover. The problem is that there's no economical way to do this and that's why we now have expensive plans with ridiculously high deductibles. Health insurance as a concept is a failed idea. 100% of us are going to get sick, 60% of us are going to get cancer, 10% of us are going to die to alcohol, 10% of us are going to die to smoking, 20% of us are going to get heart disease, and I could go on.

If you live long enough you are virtually guaranteed to get a serious and expensive medical condition. Insurance can only work if most people do not get hit by catastrophe, so that everyone pays a little just incase they're the person who has to pay a lot. With our health though that's not what happens, instead we all have to pay a lot at some point.

originally posted by: ketsuko
a reply to: reldra

But only for the first year or three. As time went on, the Federal contribution to that expansion was going to gradually be cut off until the states were left responsible for it on their own.

At that point, where were they supposed to come up with the money?

Tax it. Where do you think the feds came up with the money? It just means shifting that tax collection from the feds to the states.

a reply to: Aazadan

I just wanted to point out that your post was well thought out and caused me pause. I "feel" differently, but I really do appreciate your words, thank you.