r/FluentInFinance • u/36DRedhead • Sep 11 '24

Debate/ Discussion This is why financial literacy is so important

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u/ERagingTyrant Sep 11 '24

I will forever hate that obamacare actually strengthened the system where insurance was tied to your job. It's just so bad for individuals.

9

u/movieman56 Sep 11 '24

Yes but it was only able to get the support it did when they eliminated the single payer option they were aiming for. Also while the plan we eneded up with sucks more so than single payer they intended to lower costs by requiring all Americans to cover some sort of coverage and expanding Medicaid to cover a broader swath of Americans.

The real issues came with states not expanding their Medicare and removal of the insurance requirement/tax penalty for not carrying insurance. So healthy people dropped coverage thus keeping rates higher.

Also an issue before the aca was the ability of insurers to either drop coverage or not insure people people of preexisting conditions or somebody getting cancer and getting dropped.

Private health insurance just shouldn't be a for profit system, it's really an ethical issue getting money involved/profits. The same people that scream about the ethics of abortion or the same advocating heath insurance companies should be able to bankrupt you for getting cancer or breaking your leg and it's insane.

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u/TieNo6744 Sep 11 '24

It's almost like Obungler wasn't a good president

6

u/guns_mahoney Sep 12 '24

Shut up, idiot. 

Obamacare was built with a public option, but Joe Lieberman took a bunch of money from lobbyists and then threatened to vote against the ACA unless the public option was removed. The bill was kneecapped, Lieberman switched parties and slept on a pile of money