Occam's Razor Is Popular, But...
It Works Under Certain Circumstances, That Don't Really Exist
They Should’ve Called It Occam’s Tax
Choose Simplicity…At What Cost?
There’s a phrase called Occam’s Razor. According to Britannia1,
Occam’s razor, principle stated by the Scholastic philosopher William of Ockham (1285–1347/49) that pluralitas non est ponenda sine necessitate, “plurality should not be posited without necessity.” The principle gives precedence to simplicity: of two competing theories, the simpler explanation of an entity is to be preferred. The principle is also expressed as “Entities are not to be multiplied beyond necessity.”
Today, we have watered this down to be “choose the simplest answer, it’ll be correct.” That is not what I understand this to be, at all.
Somehow, incredibly, unbelievably, everyone cut off or deleted the words “without necessity.” In countless other editions here on our Corner, the point here is the “without necessity” phrase.
We are not introducing complications, ramifications, long-term implications, for fun or sport. We are explaining nuances due to the distorted use of Occam’s Razor. This principle says “don’t introduce complications without necessity.” What about when necessity does occur? Then you need to introduce complications, no? And when does necessity occur? Oh, just about every.single.time. Why: your individual situation is, well, individualized.
They should’ve called it Occam’s Tax; You can choose the simple, you will likely pay a tax for taking the shortcut for taking that path.
Health Insurance Federal Deadline is Days Away
The Rules
You can apply for ACA-compliant health insurance, with the federal deadline on December 15, if you want coverage to begin on January 1. You can wait until January 15th, if you want coverage to begin on February 1. Note that every state may or may not have its own separate rules, which completely override these federal guidelines.
Look at the image at the top of this issue. Does this look like a simple point and click exercise? I promise you that $1000s of dollars are being wasted by consumers by not understanding the interactions. It doesn’t look simple, because it is not. Health insurance premiums, a large component of selecting a plan, is dependent upon your taxable income. I repeat: the single article that I wrote, and that I actually like, is here, which explains the ACA’s APTC and Medicare’s IRMAA.
We haven’t even begun to discuss the errors in selection that people make, due to the misunderstanding of what insurance is, and then, how the practical world of health insurance works. And by the way, I promise you that murdering health insurance executives will never be the answer to solving how complex healthcare delivery is.
Jae’s Corner isn’t here to resolve what is or should be “fair” or “should be.” We are here to describe the world accurately, in the way that it is. From there, the variations explode, for a very long list of your private reasons, such as your health, your age, your location, and your financial ability to pay.
Send an email to info@gh2benefits.com
We Are Here Today
That all said, here’s a saying that I can get onboard with: better late than never. Start where you are.
Interesting 🤔, never knew that