I do have to add that if there was a "catastrophic" safety net I would have to think long and hard about paying for insurance coverage for things like doctors visits, prescriptions, etc unless the prices dropped dramatically. As it stands today I pay ~$16000/year for health insurance for a family of 4 with a $35 co-pay for Drs and $30 copay for prescriptions. I don't (thankfully) have medical costs that even come close to $16k/year even if I had to pay out of pocket at the rate the insurance company is paying for these services.
If it wasn't for Medicare/Medicaid and insurance companies paying the bills there would have to be competition for healthcare and drug rates which would almost definitely reduce the costs of health care.
Regular insurance plans would be freed of the responsibility of paying for catastrophic illness. Plans would go down in price by at least half and maybe more. The consumer would have more choices as far as what gets covered and the costs would go down significantly. Best of all you could choose not to buy supplemental coverage knowing that your maximum liability is limited.
Agreed mostly. EXCEPT...me being self employed, If I get cancer I could go bankrupt because my carrier could drop me. That I see as a REAL issue.
I'm not so sure. In NY State the law requires companies to extend coverage to folks with preexisting conditions as long as they have been continuously insured since before getting sick. Most states have that rule. Why buy insurance if your plan can just drop you after you get sick? I would be surprised if all States don't have that law on the books by now.
If SC doesn't have that rule you could find a plan that does in your state. Just ask for it.
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I don't see Roberts' point in comparing emergency services to health insurance - we DO pay for emergency services, like it or not - for that and a host of other things that are necessary / things that we don't want to pay for until we need them, but can't have unless we pay for them all along (schools, emergency services, roads, etc.)