I suppose that all commercial medical insurance policies are “capped”. If that’s the case than EVERY American, (even those medically insured), are actually dependent upon government as their insurer of last resort.
The government already pays foe every individual’s extraordinary medical expenses because insurance companies can not and will not pay for them. If we are to prohibit terminating sick people’s insurance or targeting them with increased cost, isn't government insurance for extremely high deductible annual medical expenses feasible (and desirable)?
This would not be government competing with insurance companies. Insurance companies do not now accept such risks. It would not increase government spending because our government is now paying for individual’s extraordinary medical expenses.
Just as participating banks pay for their FDIC insurance, insurance companies who choose to participate can pay for this very high deductible re-insurance of their clients. It wouldn’t be mandatory, but given a choice of insurance that provides this extremely high deductible protection at very moderate additional cost, why would insurance purchasers choose any other company?
(The price of re-insurance should be moderate because when insurance is discontinued our government now pays all additional medical expenses).
Wouldn’t this somewhat decrease medical insurance prices? Wouldn’t this mitigate insurance companies’ motivation to terminate medical insurance for some people? This would not solve our medical insurance problems, but it wouldn’t improve what we’re now doing?
Respectfully, Supposn
The government already pays foe every individual’s extraordinary medical expenses because insurance companies can not and will not pay for them. If we are to prohibit terminating sick people’s insurance or targeting them with increased cost, isn't government insurance for extremely high deductible annual medical expenses feasible (and desirable)?
This would not be government competing with insurance companies. Insurance companies do not now accept such risks. It would not increase government spending because our government is now paying for individual’s extraordinary medical expenses.
Just as participating banks pay for their FDIC insurance, insurance companies who choose to participate can pay for this very high deductible re-insurance of their clients. It wouldn’t be mandatory, but given a choice of insurance that provides this extremely high deductible protection at very moderate additional cost, why would insurance purchasers choose any other company?
(The price of re-insurance should be moderate because when insurance is discontinued our government now pays all additional medical expenses).
Wouldn’t this somewhat decrease medical insurance prices? Wouldn’t this mitigate insurance companies’ motivation to terminate medical insurance for some people? This would not solve our medical insurance problems, but it wouldn’t improve what we’re now doing?
Respectfully, Supposn