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[Turbineguy]

195. The catastophic plan had some merits

in the form of low premiums, but there is always a bunch of stuff that isn't covered so by taking a greater risk, you might save money. If you have something less than cancer, you are on your own. If his kid fell off a bicycle, he would probably wish he would not have been so thrifty. When I went out into the private market in 2005 I looked into it, but in the end did not get it and opted for a more expensive plan. With catastrophic coverage it's easy to go bankrupt due to an illness.

Of course as long as your health is great, it's easy to get used to the low premiums and spend the money you save on other things. If your friend does not qualify for the subsidy, then he needs to look around for coverage rather than just accepting whatever his insurance provider wants to shove down his throat. That's the whole idea behind the exchanges. Purchasing health insurance is a big ticket item and should be seen as such. I found that looking around really pays. It takes some effort but it's worth it.

It also seems that people look at it as, "well, since I'm spending all this money, I'd better get good and sick so I can get my money's worth!"

I hope your friend finds something he and his family will do OK with.