Obamacare is expensive both for the country and for families. It has however proven a windfall for the health insurers. So that’s good.
Meet Mr. Fanning, from North Texas, who said he and his wife had a policy with a monthly premium of about $500 and an annual deductible of about $10,000 after taking account of financial assistance. Their income is about $32,000 a year.
The Fannings dropped the policy in July after he had a one-night hospital stay and she had tests for kidney problems, and the bills started to roll in.
And just like that a family of two spent half their annual income on insurance and deductibles courtesy of the “Affordable” care act.
And remember, if you drop your coverage you’re still subject to a big fat fine (and getting fatter) come tax time.
Fundamentally Washington doesn’t really care.