Just now on Senate Finance Committee: Rockefeller reveals fastest growing Health Insurance Product

[berni_mccoy]

It's called a limited benefit plan.

The idea is that it is sold *as* insurance, but provides no coverage via stated recision in the fine print that is triggered when something expensive happens. These plans cost more than the preventative maintenance they do cover and are hiding the fact that they will rescind cover when some medical event happens.

The witness is saying that there is no law against a product like this, so they can sell it.

My thought is HOW ABOUT FRAUD? Isn't this FRAUD?

[HamdenRice]

1. If it's stated in the fine print and explained, it's not fraud

Fraud requires "misrepresentation" (lying). If they don't lie about it, it's not fraud -- sadly.

[RKP5637]

4. And sadly the fine print gets fainter, longer and more convoluted. n/t

[SIMPLYB1980]

2. That doesn't sound like an insurance plan at all.

We need to put something in the final bill to stop this.

[jemelanson]

3. Kinda answers the questions as to whether we really need

Health Care Reform Doesn't it?

[Greyhound]

5. It is, but when you own the means to make the rules you can legalize anything.

fraud (frôd)
1. A deception deliberately practiced in order to secure unfair or unlawful gain.
2. A piece of trickery; a trick.

They can make it legal, but it is still fraud because it is unfair.