Health insurance coverage -- Why wouldn't I pay the fines?

[Egalitariat]

I'm very healthy and have little in the way of medical expenses that get covered by my company policy (Cigna), although I pay about $250 a month and my company pays about $1000 a month.

The fines being proposed are much cheaper than what I pay now. I'm thinking of just paying the fines and dropping the monthly insurance bill.

And if I get sick later, I'll just sign up for insurance again.

What am I missing?

[Oregone]

1. You are missing nothing

Hell, there might even be crappy boiler plate plans (you know, the ones that say you are allowed 2 visits to the doctor a year) that are competitive with the fines

[Warpy]

2. Since for profit insurance has such a long history of dealing

in bad faith with their subscribers like stalling treatment, cheating them out of payment for approved treatment, and dropping them when they get too sick, it's just not in my interest to pay the bastards a dime, knowing they won't do anything in return.

The government is trying to force us to buy a faulty and dangerous product at an extremely high price.

I think a lot of us are going to be scofflaws and pay that fine. It's cheaper and healthier in the long run.

However, if a public plan is offered to us, I'll take a chance on it. At least public plans have oversight, even if they're bare bones plans with multiple restrictions.

[dflprincess]

3. Cigna has been paying your claims?

Several of my coworkers have had to fight with them just to get the claims preventative stuff they're suppose to cover paid. I was lucky and just happened to have my annual tests about the time Cigna was getting a slew of bad publicity. I'm the only one here who didn't have threaten them to get the claims paid.

Lots of luck with Cigna if you actually need it.

[HereSince1628]

4. But you don't get coverage for paying the fines...

Actually it's unclear what all the conseqences might be.

I expect it will make the credit card/bancruptcy reform look consumer friendly.

[Davis_X_Machina]

5. For a possible answer...

...see Massachusetts, which actually has a purchase-mandate-and-subsidize plan going into its third year.

Individuals who cannot show proof of health insurance coverage by Dec. 31, 2007, will lose their personal income tax exemption when filing their 2007 income taxes. The 2006 personal exemption is $3,850 for an individual, which translates into a tax savings of approximately $204 for an individual (5.3 percent of $3,850).

Failure to meet the requirement in 2008 will result in a fine for each month the individual does not have coverage. The fine will equal 50 percent of the least costly, available insurance premium that meets the standard for creditable coverage.

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