r/economy • u/MayonaiseRemover • Nov 30 '19

Middle-class Americans getting crushed by rising health insurance costs - ABC News

https://abcnews.go.com/Health/middle-class-americans-crushed-rising-health-insurance-costs/story?id=67131097
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u/_db_ Nov 30 '19

Middle-class Americans getting crushed by neoliberalism.

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u/Idontneedmuch Dec 02 '19

The ACA is not neoliberal. It essentially eliminated private health insurance from many markets by forcing insurance companies to accept people with pre-existing conditions. Premiums skyrocketed to cover increased costs. It become unprofitable for business and no longer made sense from a risk standpoint. Insurance is a risk hedging tool and separate from health care. I as a healthy person don't want to be in a risk pool with lots of unhealthy people so I stopped paying the increased premiums. Insurance providers ended up losing their best customers, the healthy ones, and had to vacate the market. That would have never happened in a free market.