UnThreaded | Threaded | Whole Thread (27) | Ignore Thread Prev | Next
Author: FoolNBlue Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 63286  
Subject: Re: Health insurer creates new way to bilk peopl Date: 12/3/2008 7:27 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
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.

FoolNBlue
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (27) | Ignore Thread Prev | Next

Announcements

Foolanthropy 2014!
By working with young, first-time moms, Nurse-Family Partnership is able to truly change lives – for generations to come.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Macro Economics

Looking at Currency Ratios
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement