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Author: Jennlee222 Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 884511  
Subject: Re: Living Below Your Means Under Obamacare Date: 2/24/2014 9:04 AM
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It's insurance. There's always a chance you'll never use it.

Most of us carry insurance we'll never use. It's the nature of the pool - everyone pays in and only a few people use it.

In some categories of insurance, its still OK to just take your chances and not carry it - like if you are a renter, rental insurance is not a requirement of any state or the federal government. Most people would recommend it as a good thing, but if you lose all your possessions and/or put yourself on the hook for liability you can currently do that.

This used to be the case for auto insurance but states have pretty much now required everyone to carry it. Why? Because the ramifications of not carrying it are too big and impact more than just the person who was not carrying the insurance.

I feel like health insurance is even more important - if you don't have it and you have an issue, it impacts far more than just yourself. If you are uninsured and you have a health problem or accident you are going to receive treatment. If you could pay for it yourself, that would be fine, but with today's costs of healthcare, that is unlikely. If you can't pay then the cost of your treatment has got to come from somewhere.

I feel like we can't let people "take their chances" anymore because it is not just the individual affected, it is everyone who picks up the slack.
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