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Isn't this basically what Obamacare tried to do? Except with a lower tax?
by brokensegue 6y ago
Isn't this basically what Obamacare tried to do? Except with a lower tax?
- occamrazor 6y agoThe mandate under ACA was probably already too weak. Unfortunately it has been further weakened.
- dwd 6y agoI believe they tried but couldn't get it to pass. This is the Australian model. If you don't have insurance there's a Medicare surcharge based on your taxable income. The Gov gives you a tax rebate if you do have insurance. https://www.ato.gov.au/Individuals/Medicare-levy/Private-health-insurance-rebate/ https://www.ato.gov.au/Individuals/Medicare-levy/Private-hea... Premiums go up each April within an allowable increase and are published on a Gov site. I worked on integrating this for a comparison site years back - the market is pretty competitive, but has been broken to an extent in recent years by providers signing up as preferred partners with various insurers and insurers just buying up providers. An interesting side is the APRA regulations regarding how many policies an insurer is allowed to issue based on the capital they hold. They needed monthly caps on how many policies they wanted (we got feeds back on leads that signed up) and some of the smaller ones occasionally asked to be removed from the panel when they were hitting their limit.