( - promoted by Jay Stevens)
Here's an idea for Max:
Max,
Here's an idea for dealing with one of the vexing problems with the health insurance business: Recision.
Your reform proposal should stipulate that: (A) If an H.I. Company opts to rescind a policy, then that company needs to return premiums paid, with the prevailing rate of interest for as long as the consumer paid premiums, back to a maximum period of 5 years from the date of the proposed recision. (B) Claims paid over that period are not deductible from the recision penalty .
This stipulation will make the company think twice about the short term profit they can make using this process, at the expense of a consumer who's paid premium in good faith for any number of years.
It will also prevent H.I. Companies from fraudulently accepting payments from consumers they may flag for recision from day one.
It will give consumers a pot of cash to deal with the catastrophic health care needs that usually prompt an H.I. company to rescind a policy.
And finally, the policy must remain fully in effect until the recision penalty is paid in full.
It's just a good idea.
But an even better idea is a government-run public option that takes the profit incentive away from those H.I. companies standing between me and my doctor. I need health care, NOT health "Insurance". Health insurance doesn't buy a dime's worth of health care . I would hope you would structure the public option in a way that will eventually steer the country toward single-payer health care over, say, a ten-year transition period. H. I. companies are not an "industry". Building cars, trains, farming, and creative endeavours are industries. H.I. is an anchor that produces nothing.
Sincerely,
Jeff Shelden |
