Tell Me Again How This Is Suppose To Work

Let's see now.  The way health insurance works is a bunch of healthy people pay insurance premiums or their employer does.  Then when someone gets sick the premiums collected from all those healthy people pays the medical bills for someone in the plan when he or she gets sick.  And, if someone who isn't in the plan gets sick and then wants to get into the plan they can't because they haven't been paying their fair share of the premiums to support the plan while they were healthy. Sounds fair, right?

Wrong!

When Obamacare takes effect next year, coverage is "guaranteed" even if you are sick with a preexisting condition or illness.  Thus, young healthy adults will have an incentive to game the system. They'll put off buying insurance until they get sick.  And that's not all.  What's called the "community rating rules" states that the sick person who hasn't been paying his or her fair share in the past will pay "reduced" premium rates and healthy folks will pay "increased" premium rates even though they have been paying all along.  And the "guaranteed issue" along with the "community rating rules" will cause a "death spiral".  If young, healthy people refuse to buy coverage, the insurance pool gets older and sicker, and premiums climb higher and higher.  And Obamacare will require more and more tax dollars until it is in the same shape Medicare is today.

Oops! 

P.S.  Speaking of all those healthy young people gaming the system.  Remember a few years back when the Obama administration was trying to sell Obamacare to the American people.  One of their arguments was that a main reason healthcare costs were so high was because hospitals and doctors were passing on the costs of treating uninsured sick young adults to those of us that were insured.

Inspired by "Investors.com"