'Bare bones' insurance policies really only work for people who are healthy

[The Velveteen Ocelot]

3. ...Until they aren't healthy.

You're young, healthy, haven't had so much as a cold in years, and all of a sudden you fall off a ladder and break your neck, or you get cancer or you're diagnosed with diabetes or lupus or MS. And all you have is a cheap policy with huge deductibles and copays that runs out of coverage long before you run out of medical expenses. You use up your coverage and you can't buy another policy you can afford, or more likely at all, because of your serious pre-existing condition. So maybe you or your family can open a GoFundMe campaign or hold a raffle or a benefit concert, and that might buy you a new wheelchair or a few months' supply of insulin or a couple of chemo treatments, but how often can you go begging? Basically you're screwed...