Impeding changes to our Health Care system

Originally Posted by xoxoxoBruce

Now my brother, who is 54, reasonably healthy, and single, has decided to drop his health insurance which costs him close to $500 a month. He figures it's cheaper to pay the federal and state(MA) penalties, then buy insurance (pre-existing conditions allowed) if something serious develops.

Is there a flaw to this reasoning?

The flaw is that if you have an unanticipated catastrophic event l(like a car accident that leaves you in coma or with serious internal injuries or a massive coronary while having dinner one night or just out for a walk....not something serious developing over time in which you can scam the system and get coverage for a pre-existing condition), you face a huge bill or bankruptcy.

Sure, the odds are in your favor that it wont happen. I guess one has to decide if its worth the risk to yourself and your family.

If I were a young person, I might consider it more seriously than at the age of 54.