The premise behind the Affordable Care Act’s insurance mandate was that with more people contributing to the insurance pool, premiums would be kept in check. Also, more people having access to preventative care would reduce emergency room treatment which would also help to keep costs in check.
Following the repeal of the individual health insurance mandate in the recent tax reform the Congressional Budget Office had this to say.
“The CBO said it was re-evaluating its own assumption but thought it had probably overestimated the mandate’s impact on premiums and insurance enrollment. Still, some mandate enthusiasts continue to argue that the provision’s disappearance will lead to a death spiral of ever-escalating insurance premiums and eventual market collapses.”
In case no one noticed, the death spiral started a few years ago. Beginning in 2014 my wife’s premium, for essentially the same coverage, has increased each year by 8 percent, 8 percent, 5 percent, 14 percent and 20 percent for a total of 69 percent. In that same time frame the cumulative cost of living increase has been less than 10 percent.
Now that the mandate has been repealed we are being threatened with even larger premium increases.
The problem is not the mandate, the problem is an out of control, top heavy, untouchable, infuriating, self-serving health care insurance system coupled with a pharmaceutical industry with friends in high places and consumed by greed (them and their friends).
Chris A. Mann