CoMF wrote:
Yeah, it's a "good deal" for the health insurance industry and their shareholders...
Insurance companies frequently use a lot of tricks to deny payment for your care. One is state that a treatment is "experimental", and they don't cover "experimental" treatments. The treatment could have been standard medical practice for 30 years, and fully approved by the FDA. The insurance company just uses the word "experimental" as a cover to mean that they are getting away with not paying for something.
Another common trick: drop your policy as soon as you become sick and need the coverage.
Another one: claiming that something must have been a "pre-existing condition" (no matter what it was), and they don't cover "pre-existing conditions."
The old Repugnican style, with no regulation, was the "best deal" for the health insurance industry and its shareholders.
The new system, where health insurance companies must pay for specified treatments, where they cannot drop people who become ill, where they cannot deny coverage for pre-existing conditions, and where they must be fully transparent about what they will cover, will be better for consumers.
Insurance companies are certainly entitled to make a profit, but they shouldn't be permitted to get away with fraud. Hence, the need for regulations.
By the same token, if a person refuses health insurance until he becomes ill; then, while in the hospital, signs up for a plan that will cover his treatment; then, as soon as he recovers, cancels his policy: that would be very unfair not only to the insurance company, but also to the other people who hold policies with the company.
For now, I am glad that we at least have something. We can wait and see how it works, and then tweek it later.