As a healthy 40-year-old woman who doesn't smoke and doesn't drink, I don't need health insurance. I would rather pay the ObamaCare penalty if I ever lose my private health insurance. When I was younger, I needed health insurance to pay for the health care costs of having a baby. At this stage of my life, I feel like I'd just be paying for everyone else's medical needs. And, I already pay enough in taxes. I am still shocked that Americans are being forced to pay penalties for opting out of ObamaCare.
Paying the penalty
According to a recent article by CNN Money, the penalty next year will be either 1 percent of family income or $95 per adult. If I lost my full-time job, I could afford to pay the penalty because I would work an independent contractor. However, I can't imagine paying $2,400 to $3,600 a year in health care premiums. When I have freelanced in the past, my income has been lower so I know off the bat that I'd be struggling to pay the ObamaCare premiums.
Getting into an accident
Some people say they need insurance in case they get into an accident. However, I have car insurance that covers me if I am in a car accident. If I was the victim of a crime, I could get assistance from fund set up for crime victims. I rarely use the health insurance I have right now because I am healthy. Unlike certain politicians, I don't smoke. I'm not overweight and I don't have high blood pressure.
Saving for health care costs
While I have a full-time job, I'm saving as much as I can in a health savings account. I will be able to use the account in the future even if I no longer work for my employer. At this time, my employer contributes some money to my account. I also save money in an emergency account for unexpected health problems.
Opting for life insurance
I read an interesting Forbes article recently that explains how people can avoid ObamaCare, but still have health care coverage through their life insurance. Some life insurance policies include "critical illness." The policyholder can receive a check from the insurer to cover surgery. I like the fact that the remaining benefit from my life insurance policy would then go to my children and husband upon my death. I don't think my family would ever see a benefit from having ObamaCare.
Ultimately, I am not too worried about the long-term issues of dealing with the ObamaCare penalties or premiums. I don't think it will exist in another few years. In fact, in another 10 years, I truly believe everyone will have forgotten about ObamaCare. At this time, I'm grateful that I have private health insurance. If my situation changes, I can't in good conscience participate in ObamaCare. I don't think the government has any business imposing health insurance requirements and penalties. I don't want the government involved in my life especially when it comes to the medical issues that will sustain my life.
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