Posted on 03/23/2010 12:07:05 PM PDT by mojito
I had forgotten about COBRA (what a name - a snake that can kill you? As long as the person could make the COBRA payments I see how it works. I suppose if the person is long-term unemployed (past COBRA limits), or can't make the more expensive COBRA payment, pre-existing may become an issue.
Most people that complain that they can’t afford the COBRA premiums, would be hesitant to give up their Lexus, or their i-phone, or their satellite radio subscription, or their wide-screen HD tv, or their daily latte at Moneybucks, etc.
A major problem with insurance is that events are covered based upon the timing of treatment, rather than the timing of harm. It would be equivalent to having fire insurance whose rates are set 30 days before renewal, having a catastrophic fire 35 days before renewal, and being told that if one wanted any expenses covered one would either have to renew at an increased cost of $20,000/month or else get the expenses in before the end of the year.
What would happen in case of fire insurance, of course, would be for the insurance to cover fires that occur while a policy is in effect, regardless of when the repair or rebuilding costs are incurred. Catastrophic health insurance would benefit greatly from a similar model: if someone gets cancer while a "cancer policy" is in effect, the policy would cover the lifetime costs (subject to deductibles, co-payments, and policy limits) associated with treating that cancer via the means listed in the policy.
Geez Fawn, try to make some sense when you write. What is your point?
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