Monday, July 19, 2010

No more Health Insurance?

I was talking with my insurance professor a few months ago. We were chatting about PPACA. He mad a very interesting point. Since he is a insurance broker, his job is to find the best deal for his clients. He has been telling his clients that since the government prevents insurance companies from denying people because of prexisiting conditions, individuals can get sick and then go buy coverage. While this may be expensive, if you get very sick and have 500k in bills, the insurance companies must cover you in the high risk pools. Your deductible will be huge but the punishment for not having insurance is still a measly 600 dollars a year for a individual. This slight of hand some people will use just causes more headaches for insurance companies. Then again, they supported Obamacare; maybe they deserve it!

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