Quote:
Originally Posted by ThePrince
Again, misleading. This is not how things would play out.
If you got laid off, you would use the 60 days to look at marketplace plans, which in a state like CO are in the $300/month range (for a single person) and if you are a low income earner, you likely qualify for Medicaid or a reduced monthly premium. If you didn’t have any medical events over those 60 days, you would elect into your marketplace/Medicaid plan. If you did have a medical event, then you’d probably elect COBRA, then opt out and go with a marketplace plan.
You would never be “uninsured”. If something happens, you go with COBRA retro-actively. If something doesn’t happen, you go with a marketplace plan/Medicaid.
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This is really quite wrong. About 12% of insured Americans will experience a gap in coverage during a year. That expands out to about 20% when you look over a 2 year period.
COBRA is often cost-prohibitive for those who just lost their insurance.
Employer based health insurance is a remnant of a tax loophole that employers used during WWII to be able to pay more than the compensation caps set to prvent rampant inflation due to the labor shortages created by sending millions of young workers to war. It was never something thought out or planned. It is not a "system."
Health insurance is a financial product and increasingly, it's a poor product. You wouldn't buy car insurance with the gaps in coverage tor deductibles that health insurance often includes.
Some sources for this:
https://www.commonwealthfund.org/pub...iennial-survey
https://www.penguinrandomhouse.com/b...y-finkelstein/