Club Cobra - Its all dead

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Quote:

Originally Posted by Anthony (Post 1020912)

Actually, the possible scenario you spoke about has happened already to my one employee's nephew, an about 24 year old (with no insurance), while on vacation was assulted, they bashed his head in, still haven't caught or cared about catching the criminals. Obviously, he was sent to a trauma center unconscious, in an ICU for weeks, sedated, documented brain damage, unsure if he could ever walk or play instruments again. Anyways, he got on Medicaid insurance which covered his 3 month hospital stay, and now is at home, still going to therapy. His parents did not go bankrupt, although the mother quit her job so she could help take care of him at home. That was about 8 months ago.

That's what would happen, and it did.

The general public doesn't want to pay co-pays, high deductables, money out of their pockets for basic care. They complain to me about it all the time.

yes, a catstrophic plan is the type of insurance that makes sense, especially for someone who has accumulated some assets, but that's not the type of insurance that can be "sold" to the public.

Maybe if a President made over 30 speeches in favor of a MUCH lower cost catastrophic plan the public might listen. At least listen better than when he said over and over that he would cover 47 Million more and without pre-existing exclusions for less money. The fleas on my dog know that's ridiculous and IMPOSSIBLE.

Certificate of Credible Coverage

BeanCounter, to be honest this is something I was not aware of. All of this happened about 5-years ago for us, so not sure if this was even an option then.

With you regarding comment on family...

Hope things work out for your daughter.

Quote:

Originally Posted by bdeutsch (Post 1020955)

Certificate of Credible Coverage has been around for many years now. I can imagine an insurance company not wanting to cover someone who had any pre-x, to 'forget' to mention that clause. Once, long ago at the beginning of widespread group policies. A group policy was much cheaper than an individual policy and there were no medical questions or exams. But as the volume grew and the payouts increased, insurance companies wanted to medically underwrite the policies. Government regulators said OK, underwrite, but if a person has CREDIBLE COVERAGE under a group policy, he can carry coverability to a new company without underwriting. Just a guess, but I'd say that was well over 20 years ago.
In my agency we had over 100 agents, only 4 were allowed to write major medical policies, individual or group, because the chances of problems [mistakes] were so great. ALL were licensed to write major medical but the mass of regulations were too much of a mine field.
We had a great desire to help people and write whatever they needed. But first priority was to stay out of court and stay in business.