Turned out not to be a mistake. The law changed right in time for him to join when he needed to. Think of all that money he saved not buying insurance until he just so happened to need it. Smart guy, really. More people should consider not buying insurance now, and paying the penalty, given they can just sign up if and when they end up developing a condition. The pre-existing condition rule (which Republicans seem set on keep) effectively makes health insurance cease to be health insurance. It's not insurance when you can sign up for something to pay your bills after the insurable event happens. That becomes something very different from insurance. That's just 3rd party financing of a known condition.
Health insurance was on the brink of an adverse selection death spiral pre-Obamacare.
This sentence is inherently self-contradictory.
Yes, buying insurance only when you need it, In the "Property & Casualty insurance World" We call this Insurance Fraud.
Also the day old T-Shirt Saying, "Its only illegal if you get caught"
The point of insurance is to pool everyone's money and to Restore someone that has sustained a catastrophic loss.
Currently, it basically means that a person does not need to worry about consequences nor do they need to take risk management in life as, they know when something goes wrong, Someone else will save them.
i.e. screw paying into the system. oh but if I do get sick I can sign up and get coverage so I dont have to pay for it myself, YES this is genius and yes, it devalues the whole damn system.
Its like illegals that make their way in, well, we dont have to pay taxes and follow the rules here, OH wait we just got caught, well the US will give us amnesty and we can start from scratch now..... Thats basically what ACA is.
10 healthy people pay into the system ever month, $2000 a month gets deposited, $24,000 sits in a bank account for 1 year, none of them go to the doctor as they are healthy.
1 person that does not pay into the system, finally gets deathly ill and signs up, OH but no pre existing exclusion anymore, and guess what they pay the same $200 a month.... they first month they rack up $20,000+ medical bills due to the illness in the first month. The bank account is now down to $4,200 in the first month of this "pre existing" person.
Its basic economics..... The money will run out, and the money will run out fast, and what happens to the 10 healthy people that paid in to the system for a year..... yeah the ones that followed the rules and did what they were supposed to, THEY get screwed, and guess what the perpetuated cycle begins, they CHOOSE not to follow the rules because someone else took advantage.... and its endless.
We just created a system that enables people to take advantage and commit fraud. In no way did we "HELP" the people..... become more healthy or take control of their lives..........