Health Insurance Exchanges – Here’s a Quick Fix to This Mess…
We already know that the term “Affordable” was used with an excessive amount of creative license. We should not begin to get the words “success” or “successful” anywhere near anything to do with the health insurance exchanges.
As you would see from my other articles, the only real purpose of the exchanges is to facilitate the subsidies. Those folks that do not need subsidies should continue to steer clear of the exchanges. And, clearly some folks that are receiving heavy subsidies, cannot afford to put money out and wait to get money back at tax time. But, what about the folks that can? Should they not be allowed to go to the insurance company directly (directly through their broker, of course), pay the full premium, and just submit that each year on their tax return to get the credit?
The insurance companies’ web sites have been up and working for years. The idea of private exchanges has been working for years. The InsurancePickle.com Private Exchange has been around for ~14 years. We just did not know it was called a “private exchange” until that phrase was invented in the last couple of years.
The idea of the exchange is fine as an idea, but limit its purpose to letting people who qualify for Medicaid and heavier subsidies do their transactions. Let everyone else CHOOSE how they would like to proceed.