The Massholes Are at It Again

[Crabcake Johnny]

Gaming the system has quadrupled:

Short-term insurance buyers drive up cost in Mass. - The Boston Globe

"The number of people engaging in this phenomenon — dumping their coverage within six months — jumped from 3,508 in 2006, when the law was passed, to 17,177 in 2008, the most recent year for which data are available."

 

[Norwayguy]

Gaming the system has quadrupled:

Short-term insurance buyers drive up cost in Mass. - The Boston Globe

"The number of people engaging in this phenomenon — dumping their coverage within six months — jumped from 3,508 in 2006, when the law was passed, to 17,177 in 2008, the most recent year for which data are available."

Why blame the people for using the system as the rules have been set up..Blame the idiots that created no way for an insurer to prevent these short term people...

 

[Crabcake Johnny]

I'll agree that it's hard to blame the people gaming the system. I don't think they're bad people or con artists. The lowest premium for my family in Mass. would be $900 and I'd have to pay that premium if I earned 54K or more.

Could I handle $900/mo if I was earning 56K? Not a shot in hell. I'd have to sit out and pay the penalty. But don't think for a second that if my son got sick I wouldn't sign up just to get him treated.

 

[Norwayguy]

I'll agree that it's hard to blame the people gaming the system. I don't think they're bad people or con artists. The lowest premium for my family in Mass. would be $900 and I'd have to pay that premium if I earned 54K or more.

Could I handle $900/mo if I was earning 56K? Not a shot in hell. I'd have to sit out and pay the penalty. But don't think for a second that if my son got sick I wouldn't sign up just to get him treated.

Guess Mass has a better program....You would be looking at $1200 or so a month here for a hsband wife and children. Unfortunatly in Maine pre-ex is covered after 12 months if there is more than a 90 break in coverage.

 

[Crabcake Johnny]

Yowza! (reference: Happy Days)

24% of all individuals terminated their coverage within the first year.

http://www.lifeandhealthinsurancene...iduals-Game-Mass-Health-Insurance-System.aspx

 

[Norwayguy]

Yowza! (reference: Happy Days)

24% of all individuals terminated their coverage within the first year.

Consultants: Individuals Game Mass. Health Insurance System - Regulatory,Legislative and Tax Issues - Life and Health Insurance News

What do we expect when you set up a program that if you analyze it your actually better off not carrying coverage and paying a fine and only picking up the coverage when you need it...Okay so we won't deny for pre-x but is there any waiting period for pre-x and if not then what do you expect to happen when you make the rules so they are completely backwards to the idea of insurance.

Obama wants Europe to continue spending and spend even more to get out of this and Europe is pushing back and wants to spend less....Europe has already been through the liberal cornacopia and is pulling back because it is unsustainable.

Will it get so bad that all we americans will need to do is have a power of attorney in place so that if we are injured and can't sign ourselves up for the insurance to cover us the person with power of attorny will do it for us.....Will we just sign 1 additional form when admitted to the hospital and then be covered?

 

[Crabcake Johnny]

24% is a significant number for many reasons. Note that that 24% that dropped coverage is from 2006 to 2008. No '09 or '10 numbers.

Following the math and assuming 10%+ rate increases every year we could expect 35% to 40% to drop coverage by '12. That's significant because the people dropping coverage are typically healthy.

As the healthy sit out it leaves an aging block of sick people. So my prediction is complete Mass. system failure by 2012.

 

[somarco]

Has use of the term "Yowza" been approved by stibroker?

On other notes, obviously one in four people no longer needed health insurance so they dropped it. Is that a problem?

because the people dropping coverage are typically healthy.

You just proved my point.

Why pay for insurance when you no longer need it?

Would you continue to pay for auto insurance for a car you do not drive? Why only buy auto insurance on the days you will be using the car, and only then if you have a wreck or it is stolen? Makes much more sense than our current system.

 

[HealthGuy]

What an F'd up system that is coming upon us. Do healthguys really really want to sell "health insurance" in this climate?

 

[Crabcake Johnny]

Has use of the term "Yowza" been approved by stibroker?

On other notes, obviously one in four people no longer needed health insurance so they dropped it. Is that a problem?



You just proved my point.

Why pay for insurance when you no longer need it?

Would you continue to pay for auto insurance for a car you do not drive? Why only buy auto insurance on the days you will be using the car, and only then if you have a wreck or it is stolen? Makes much more sense than our current system.

Bingo. I just read an article on Zip cars expanding in Baltimore:

Car Sharing, an alternative to car rental and car ownership – Zipcar

Dr. Gridlock - Zipcar adds to Baltimore fleet

For $7/hr or $66 per day you grab the car when you need it and drop it back off. No insurance, no car payments, etc...

The entire point? If you don't drive a lot why take on unnecessary expense. Now let's assume it cost $500/mo for car insurance but you only need a car 3 days out of the month. Zip car it is.