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Wed Nov 13, 2013, 10:06 PM

 

Junk Insurance Policies

I've heard many a horror stories about junk insurance - my friend had to take out a 2nd mortgage to pay for the 2 hour stay at the hospital for a stroke. $25,000. He nearly lost everything....barely hanging on now



Junk” health insurance leaves individuals and the nation vulnerable to high medical costs.

able to high medical costs.
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The horror stories are rampant. Around the nation, people who liked their inexpensive individual insurance plans say they must replace them with a more expensive one because of the Affordable Care Act.

The stories raise two distinct issues.

One is whether President Barack Obama lied when he said, more than once, “If you like your plan, you can keep it.”

Certainly Obama was wrong. Maybe he was making a paternalistic assumption that people do not “like” lousy individual insurance policies. Maybe he expected insurance companies to immediately begin upgrading policies, not anticipating how they would react to the uncertainty surrounding implementation of law. Or maybe he was lying.

Distinct from Obama’s motives is whether the fact not all people can keep the cheap individual insurance policies they “like” is a bad thing.

The policies being canceled under Obamacare do not meet even the minimum standards of the law. They fall far short of the platinum, gold and silver policies, and can’t even meet the minimalist coverage requirements of a bronze policy,http://www.timesdaily.com/opinion/editorials/article_59e06dba-4b1d-11e3-8290-10604b9f1ff4.html




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