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November 26

Health Insurance Mandate Needed for Plan to Work

Posted by admin
Filed under Health Insurance | 1 Comment

Obama’s proposed healthcare reform which is aimed at uninsuring the millions of Americans currently without coverage has a chance of working, but only if he is willing to embrace an idea that he previously rejected. Experts say that Hillary Clinton had the right idea when she said that health insurance must be mandatory in order for the plan to work. Obama wanted to work to expand coverage without imposing the mandate. Unfortunately, if we leave the choice up to many Americans, that will not work. The only way for insurance companies to afford to cover everyone regardless of preexisting conditions is if they have a huge pool of insureds, meaning the everyone must carry insurance. Do you think Obama will change his tune and realize that this must be the path to take, or what will happen if he does not?

This entry was posted on Wednesday, November 26th, 2008 at 12:38 pm and is filed under Health Insurance. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

One Response to “Health Insurance Mandate Needed for Plan to Work”

  1. Ken Zimmerman on November 30th, 2008 at 12:54 am

    I think that is a very good point. Many people do not realize that insurance companies, just like any other business, must be profitable in order to continue to provide services.

    Without a very large risk pool, insurance companies would simply not be able to cover pre-exisitng conditions. This is the main reason that group insurance carriers are required to cover pre-existing conditions, while individual health insurers are not.

    That said, I’m not sure what would be the best way to impose a mandate that requires health insurance coverage. What would be the penalty for not carrying the required insurance? With car insurance, states can easily impose penalties (otherwise few people would carry state-mandated auto liability coverage), but what can you take away to compel people to purchase health insurance coverage?

    An interesting idea… but I’m just not sure how it would work. I hope it does, though.

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