Quote:
Originally Posted by dc_dux
Your math leaves out the fact that he way around the higher risk is to increase the size of the risk pool (by 30+ million) and the addtional way to reduce premium costs is to increase competition in what currently is a relatively closed market in many (most states) as a result of anti-trust exemptions.
I am not suggesting that premiims will go down, although for many, I would expect marginal decreases or for rates to remain relatively stable. For most, premiums will not continue to increase at rates that are unmanageable at a personal level (6% or more annually - 2 or 3 times more than wages or more than 100% over the last 10 years).
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But you are adding HIGH RISK people to the pool. These people are largely uninsurable. They either don't work, or have some debilitating condition that has precluded them from obtaining insurance in the past. By adding these people, the rest of us will have to make up the difference in order to cover their considerable medical costs. NOBODY'S premium is going to go down because of this. At best they will increase by about 8 to 10%.