Could you be next to be dumped by your private health Insurance Company?

@iriscot (1290)
United States
August 2, 2009 10:24am CST
Private health insurers can dump you -- and fast. The practice is called rescission. It affects 1 in 100 policy holders with individually paid for health insurance... http://www.pbs.org/wgbh/pages/frontline/story/2009/07/you-next-on-rescinded-list.html This practice by insurance companies leaves policy holders holding the bag for thousands of dollars in doctor and hospital bills. I you have insurance through your employers plan and you lose your job and insurance, you will have a very hard time getting a new policy, if you have a serious health problem. It is hoped that the new government plan will address this.
1 person likes this
4 responses
• United States
2 Aug 09
i hope obama's bill passes. i'm someone without health insurance (student) and i have many health problems. i must choose to pay tuition or go to the doctor. it is a sucky situatioin.
1 person likes this
@iriscot (1290)
• United States
2 Aug 09
You're right it does "suck". I understand your problem though I don't know how much it costs for a decent health plan for a student. My hope is that the Government plan puts enough pressure on the private industry that they have to reduce their rates and stop paying these CEOs these million dollar salaries and cushy bonuses. If they would stop doing that our premiums for policies should come way down. Good luck to you, I hope things work out for you.
1 person likes this
@Taskr36 (13925)
• United States
2 Aug 09
You should check to see if your university offers health insurance for students. My wife gets cheaper health insurance through school than if I had her on my plan.
@iriscot (1290)
• United States
3 Aug 09
I hope he can get a policy that he can afford through the university. I though my grandson was on his families plan until her graduated the University. Maybe I'm wrong about that.
@spalladino (17925)
• United States
3 Aug 09
It's funny how the people who have employer provided health insurance have no clue about how expensive, uncertain and generally bad private insurance coverage is. I got some online quotes when we first started discussing the subject here and the monthly premiums for the fictional family of 4 I created were high, you had to pay thousands in deductables every year before any benefits kicked in and the coverage itself was bad. If you have any pre-existing conditions, forget it.
@iriscot (1290)
• United States
3 Aug 09
You're right one spalladino, I remember for the two of us I was paying over $600 a month and had a $5000 deductible and prayed that nothing serious would happen to my wife or I. I have no idea how much that policy would cost today. It was with the Prudential company. When we first took out the policy in the 1950s it cost $60 per month. It didn't cover dental or glasses.
@spalladino (17925)
• United States
3 Aug 09
The $5,000 and even $10,000 deductables are still there...and I think that's what shocked me the most. In every quote it seemed to me that the insurance was nothing more than a safety net against a major medical expense but did nothing to help with the cost of routine office visits or tests. If more people had regular access to preventive care, medical costs in general would go down. Thanks for the BR!
@Taskr36 (13925)
• United States
3 Aug 09
Private health insurance is pretty aweful. My wife considered getting a private plan a few years ago because my job at the time raised the price to $192 to have her on my plan. A similarly priced private plan was not only worse, it didn't even cover pregnancy. What kind of ridiculous health plan doesn't cover pregnancy? She later got a plan through her school, USF, which was much more affordable.
@dlr297 (5418)
• United States
2 Aug 09
We lost our health insurance about a year ago due to the economy. My husband is self employed in the construction business so we were getting it ourselves. And even if the health care bill passes we will still not be able to afford to pay anything at this time for it.
@iriscot (1290)
• United States
3 Aug 09
I understand you dilema, I was self employed for 45 years and one year our health insurance policy jumped from a little over $600 a month to $840 in one year just for my wife and I. I had to shut down my business and find another job. It is ridiculous what they charge for insurance. Our Prudential plan didn't cover glasses or dental either. My youngest son is an actuary and he used to work for Blue Cross and then went to another company that is no longer in business. He had a hard time believing some of the things that go on in those companies. He is with an actuary firm now. There needs to be some drastic changes made in the insurance industry and the medical care industry.
@irishidid (8734)
• United States
2 Aug 09
This is not quite the same, but I think it bears mentioning- Because my daughter is on disability she gets medicaid. In our state you can go with the state's version, or you can opt for private insurance that works with the medicaid program. They are far superior to what the state offers. Here's the catch-my daughter doesn't qualify for them because she has a pre-existing condition.
@iriscot (1290)
• United States
3 Aug 09
When I stopped working at my last job, I was offered "Cobra" and it was only available for a certain amount of time. If I hadn't of bought another policy that took effect exactly when the policy I had been on, I wouldn't have been able to get insurance due to me having cancer. I understand your daughter's problem. I think that the government in pressing to have that changed under new regulations. Let's hope so, because a lot of people will have this problem as they grow older and have to get a supplemental policy as we did. My wife and I are paying $320 a month for our supplemental policy and that really cuts into the income when all you have is social securtiy to live on.