No. of Recommendations: 4
People who are already sick will generally not be eligible for the new product. For those who do pass a medical review, they will pay 20 percent each month of the current premium on the individual policy to reserve the right to be insured under the plan at some point in the future.

Buying an option makes sense to me. If you didn't screen pre-existing conditions, people would wait to buy insurance (especially FIRE types). I'm young and healthy now. If I could, I'd drop insurance and wait until I was sick to buy it! You wouldn't expect drivers to wait until an accident to buy auto insurance, or a homeowner to wait until a fire to buy a homeowners policy, why would you expect health providers to screw themselves.

Intercst, how would you run your insurance company differently (assuming you want to remain solvent/earn a reasonable profit)? Granted the system has problems but I don't see anything wrong with offering an option... there is no coercion and those desperate won't be looking for an option but rather for actual insurance so it doesn't smack of predation to me.

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