The reason “paying premiums” is so important is that without a payment, a contract is not confirmed. Offer, Consideration, Acceptance, and Competent Parties. Offer: Provide Coverage at a specific costConsideration: Payment by insured to receive coverageAcceptance: Both parties agree, payment is made, and coverage is bound.Competent parties: Individuals that are mentally capable in the eyes of the law to enter into a contract with an organization.So you see, if the “consideration” portion isn’t met (money for coverage), there is no binding contract. No contract = No Insurance. There’s not a “freeloader” argument going on here, it’s purely from the standpoint of a legal one. If people don’t pay an initial auto insurance premium, and they get into an accident, they are considered uninsured. The same goes for the health insurance. And the number right now is that about 1 in 5 have not paid premiums for the coverage, meaning no coverage was bound. That’s potentially over a million of the alleged 6-7 million that “enrolled.” And then, on top of that, only 1 in 10 of those 6-7 million actually didn’t have insurance before the insurance marketplace; all the PPACA did was force people out of plans they already had and into the insurance marketplace, effectively against their will. So realistically, if we take 10% of those 7 million people, you’re looking at 700k that signed up who didn’t have insurance. Let’s be generous and double that number and go to 1.4 million. Then, 80% of that is 1.1 million, give or take, that signed up, had no prior insurance, and actually paid. Given that we have this “epidemic” of uninsured at around 30-40 million people, not a bad job getting 2.9% market penetration. Whew, those Millions or Billions of dollars spent getting this thing up off the ground, all the millions of cancelled policies due to non-compliance of the rules, and the millions of people who are seeing massively-increased insurance premiums are totally worth those 1.1 million people now getting insurance. THIS is why I’ve been saying that government will do an absolutely horrible job at managing something like this, and why they should instead let the free market manage this and if they are trying to help the poor get insured, provide a subsidy instead of this idiotic attempt at getting the uninsured insured.
The reason “paying premiums” is so important is that without a payment, a contract is not confirmed. Offer, Consideration, Acceptance, and Competent Parties. Offer: Provide Coverage at a specific costConsideration: Payment by insured to receive coverageAcceptance: Both parties agree, payment is made, and coverage is bound.Competent parties: Individuals that are mentally capable in the eyes of the law to enter into a contract with an organization.So you see, if the “consideration” portion isn’t met (money for coverage), there is no binding contract. No contract = No Insurance. There’s not a “freeloader” argument going on here, it’s purely from the standpoint of a legal one. If people don’t pay an initial auto insurance premium, and they get into an accident, they are considered uninsured. The same goes for the health insurance. And the number right now is that about 1 in 5 have not paid premiums for the coverage, meaning no coverage was bound. That’s potentially over a million of the alleged 6-7 million that “enrolled.” And then, on top of that, only 1 in 10 of those 6-7 million actually didn’t have insurance before the insurance marketplace; all the PPACA did was force people out of plans they already had and into the insurance marketplace, effectively against their will. So realistically, if we take 10% of those 7 million people, you’re looking at 700k that signed up who didn’t have insurance. Let’s be generous and double that number and go to 1.4 million. Then, 80% of that is 1.1 million, give or take, that signed up, had no prior insurance, and actually paid. Given that we have this “epidemic” of uninsured at around 30-40 million people, not a bad job getting 2.9% market penetration. Whew, those Millions or Billions of dollars spent getting this thing up off the ground, all the millions of cancelled policies due to non-compliance of the rules, and the millions of people who are seeing massively-increased insurance premiums are totally worth those 1.1 million people now getting insurance. THIS is why I’ve been saying that government will do an absolutely horrible job at managing something like this, and why they should instead let the free market manage this and if they are trying to help the poor get insured, provide a subsidy instead of this idiotic attempt at getting the uninsured insured.