A request for information around Insurance companies and pre-existing conditions?
In Obama's speech last night, one point is that he would get it illegal for insurance companies to discriminate against those with pre-existing medical conditions.
What effect would this enjoy on us, the insurance companies, costs and our premiums?
Answers:
do you suggest it is ok for insurance companies to deny coverage to people with cancer,Aids MS,and other diseases
I heard someone claim that this would allow inhabitants with pre-existing conditions to pool together and that would drive down costs.
But that is silly. The judgment insurance companies don't want to cover people with pre-existing conditions (aside from the certainty that this, technically, woudn't be insurance) is that they KNOW these people will cost them more than the company can make from them.
So any they would charge such a high rate that people next to pre-existing conditions couldn't afford it anyway, or they would pass that expence on to the other insured people, driving everyone's insurance costs up.
But stern to the (aside).
Insurance does not cover pre-existing conditions. If my house is uninsured, then we have a fire, I can't sign up for insurance tomorrow to repair my house from the fire that happen today.
Since condition care reform is going to be passed, it will enjoy no effect at all. Without health contemplation reform, if insurance companies had to cover pre-existing conditions and not drop their insureds that get sick, premiums would continue to go sky high-ranking. Many employers would have to drop insurance coverage for their body due to cost, more people would lose everything they have if they have a catastrophic illness and insurance company CEO's would become wealthier than they are.
no one will acquire medical insurance until they are already sick. the costs to the insurance companies will skyrocket. since they are government backed very soon, the government will bail them out, increasing our taxes. the same entry already happened in strange york. the made it illegal to deny for pre existing conditions. so no one get health insurance until they were sick. folks under the age of 25 dropped their insurance. 12% less immature kids had insurance after the law be enacted . then the management complains that too few people have insurance, they are the ones who cause the problems!
Its just like if i get in an accident, consequently called my insurance company and told them to cover me. sorry buddy, too late.
If you're an actuarial working for an insurance company, you will of course recalculate the premiums charged to your subscribed member.
If there is a public option on the table, you'll muse twice about actually raise them.
Cheers.
The cost of insurance would skyrocket.
If you remove the 'no pre-existing conditions (unless previously covered by insurance) clause then it would bring in no sense for healthy people to get hold of insurance. Instead they would wait until they got sick (or pregnant) and one and only maintain the insurance as long as they were getting more surrounded by benefits than they were paying in premiums.
In certainty the entire claim that people with pre-existing conditions cannot go and get insurance is misleading. I have asthma and have never be turned down for health insurance.
Insurance companies have said that this would be a disaster IF it were not coupled next to requiring healthy people to catch insurance. Howeve,r since Obama has agreed to this, it spreads out the risk.
Think of it another way. If insurance companies could not deny liability coverage to drivers with continuing accidents, what do you believe would happen to the cost of automobile insurance?
Here is an example of how it doesn't really matter if i wrack up a million dollar hospital bill (which isn't all that tough to do).
1. without insurance, I will continue to achieve the help that I need because it is wicked for a hospital to turn down a patient based on income or insurance status. I will after owe the hospital 1million dollars. I will then file for liquidation and the one million dollar debt will be passed on to the hospital which will then raise rates for everyone across the board.
2. beside insurance, I will pass 800,000 of my bill to my insurance company that will then negotiate near the hospital to lower it to around 200,000. the hospital will still be out 600,000 and the insurance will be out 200grand and I will be out 200grand. the hospital will raise it's rates to cover the loss, the insurance comapny will raise its rates to cover the loss, and I will still enjoy to file bankruptcy because I cant ****in obtain a loan for 200,000 to pay the hospital. Source(s): heart disease
Related Questions:
What effect would this enjoy on us, the insurance companies, costs and our premiums?
Answers:
do you suggest it is ok for insurance companies to deny coverage to people with cancer,Aids MS,and other diseases
I heard someone claim that this would allow inhabitants with pre-existing conditions to pool together and that would drive down costs.
But that is silly. The judgment insurance companies don't want to cover people with pre-existing conditions (aside from the certainty that this, technically, woudn't be insurance) is that they KNOW these people will cost them more than the company can make from them.
So any they would charge such a high rate that people next to pre-existing conditions couldn't afford it anyway, or they would pass that expence on to the other insured people, driving everyone's insurance costs up.
But stern to the (aside).
Insurance does not cover pre-existing conditions. If my house is uninsured, then we have a fire, I can't sign up for insurance tomorrow to repair my house from the fire that happen today.
Since condition care reform is going to be passed, it will enjoy no effect at all. Without health contemplation reform, if insurance companies had to cover pre-existing conditions and not drop their insureds that get sick, premiums would continue to go sky high-ranking. Many employers would have to drop insurance coverage for their body due to cost, more people would lose everything they have if they have a catastrophic illness and insurance company CEO's would become wealthier than they are.
no one will acquire medical insurance until they are already sick. the costs to the insurance companies will skyrocket. since they are government backed very soon, the government will bail them out, increasing our taxes. the same entry already happened in strange york. the made it illegal to deny for pre existing conditions. so no one get health insurance until they were sick. folks under the age of 25 dropped their insurance. 12% less immature kids had insurance after the law be enacted . then the management complains that too few people have insurance, they are the ones who cause the problems!
Its just like if i get in an accident, consequently called my insurance company and told them to cover me. sorry buddy, too late.
If you're an actuarial working for an insurance company, you will of course recalculate the premiums charged to your subscribed member.
If there is a public option on the table, you'll muse twice about actually raise them.
Cheers.
The cost of insurance would skyrocket.
If you remove the 'no pre-existing conditions (unless previously covered by insurance) clause then it would bring in no sense for healthy people to get hold of insurance. Instead they would wait until they got sick (or pregnant) and one and only maintain the insurance as long as they were getting more surrounded by benefits than they were paying in premiums.
In certainty the entire claim that people with pre-existing conditions cannot go and get insurance is misleading. I have asthma and have never be turned down for health insurance.
Insurance companies have said that this would be a disaster IF it were not coupled next to requiring healthy people to catch insurance. Howeve,r since Obama has agreed to this, it spreads out the risk.
Think of it another way. If insurance companies could not deny liability coverage to drivers with continuing accidents, what do you believe would happen to the cost of automobile insurance?
Here is an example of how it doesn't really matter if i wrack up a million dollar hospital bill (which isn't all that tough to do).
1. without insurance, I will continue to achieve the help that I need because it is wicked for a hospital to turn down a patient based on income or insurance status. I will after owe the hospital 1million dollars. I will then file for liquidation and the one million dollar debt will be passed on to the hospital which will then raise rates for everyone across the board.
2. beside insurance, I will pass 800,000 of my bill to my insurance company that will then negotiate near the hospital to lower it to around 200,000. the hospital will still be out 600,000 and the insurance will be out 200grand and I will be out 200grand. the hospital will raise it's rates to cover the loss, the insurance comapny will raise its rates to cover the loss, and I will still enjoy to file bankruptcy because I cant ****in obtain a loan for 200,000 to pay the hospital. Source(s): heart disease
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