Wednesday, March 11, 2009

Got Health Insurance? Think You’re OK? Think Again!

The current issue of TIME magazine has a cover story on health care in this country. Read it!

There are several case histories that will break your heart. These are not rare occurrences, either. An illness or accident can leave you destitute and an empty pot for your heirs.

A couple of years ago, Harvard did a study of some 1,700 bankruptcies from around the country. In more than half the cases, medical problems were the major cause. And – get this! – 75 percent of those people had health insurance!

A big part of the problem is deceptive marketing by many of the insurance companies, lulling people into believing they will be adequately covered in the case of a serious medical problem.

One case mentioned in the article will make your blood boil. Here's a brief summary:

A man bought an insurance policy which he renewed every six months for several years. Toward the end of one of those six month terms, he complained about some symptoms to his doctor. A few months later -- he’s now in his next six-month term -- he was diagnosed with a serious illness. But the insurance company refused to pay on the grounds that the illness was a pre-existing condition. How can that be, you ask? Well, every time this poor guy renewed his policy, the company considered him to be a brand new customer.

For the record, the name of this miserable company-without-a-soul is Assurant Health, and they, according to their web site, are providing “peace of mind … at a price you can afford.”
Wrong on both counts!

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