Think Health Insurance is Expensive Now?

Category: Blog

My favorite bumper sticker reads, “Think Health Care is expensive now?  Wait till it’s free!”                                  

There is a huge misconception among some Americans that Health Care Reform is socialized healthcare, that it will provide free insurance for everyone.  That is furthest from the truth.  Let’s consider Massachusetts.              

Two states currently have the proposed “exchanges” that Health Care Reform will enact come 2014. Massachusetts is one of these states.  Interesting enough, it leads with the highest health insurance premium in the individual market.  The national average stands at $215/person.  Massachusetts averages $400/person almost double the national average.  In case you’re interested, California Medical Insurance has an average of less than $170 in the individual market.                                                                                                       

Researchers expect premiums to grow with the 2014 exchanges.  Part of the reason, providers will be required to issue insurance to anyone regardless of pre-existing conditions.  For many, this will be a blessing.     Massachusetts has already made it easier for people with pre-existing conditions to get coverage.  And this is one reason why their premiums are so expensive.  The money pot to pay out claims must be filled.  Where does that money come from?  It must be collected.  But from who?                                                                                              

Think Health Care is expensive now?  Just wait till it’s free.

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