There are lots of stupid insurance policies out and about. I got educated on the matter in the late 1980's in the Bay Area, when the small company I worked for was bought out by another company. The new company was in the process of changing medical insurance. When the new policies came, everyone was reading through the fine print, and it met with great approval. The policy covered everything, (dental & eyecare included) with very low or no deductibles. Most the people were from Stanford, MIT, or Bezerkly, in engineering or physics. One would think they had functional brains.
I bitched like heck! The policy covered pretty much everything up to $25K, and nothing above that! The exact freaking opposite of what insurance should do. Yet all these smart people would have been perfectly happy with it accept for my bitching. Well, in the end they did exhibit functional brains, because after a half hour lecture from me on the purpose of insurance, they went back to the drawing board, and got a reasonable policy somewhere else.
If you go broke due to medical bills but had insurance, you had a stupid policy, UNLESS you simply could not afford a reasonable policy. I'm all for wealth transfer so everyone can afford a reasonable policy, and I'm greatly in favor of the government regulating insurance providers so that people are not scammed by stupid policies. |
