FAQs about the insurance exchange

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  • Updated: August 16, 2013 - 10:22 AM

What is a health insurance exchange?

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mkuldaMar. 8, 1310:09 AM

The exchange will go a great job in helping consumers see side to side comparisons of the plans offered by different companies (that's assuming that more than one company will do the tremendous and expensive work necessary to be allowed into the exchange). But it will NOT as the proponents try to claim do anything to lower health insurance costs. So for many people, sadly, the most affordable solution is going to be to just pay the penalty and continue without insurance coverage until you get sick and need it. This phenomenon will actually increase the cost of those insured because those insured will be the sicker ones who need the coverage. If we are going to make this work as the proponents intended, then the penalties need to be much higher....more expensive than the coverage they are being required to buy.

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