HT to R. Neal, who in an earlier post shared his family's harrowing treatment at the hands of a health insurance corporation who publicly claims to be trying to reduce the number of uninsured.
If you read this and feel thankful that you are insured, just keep in mind that you are probably just an interoffice memo or a balance sheet away from being among the throng of uninsured in America. Hence, advocating for the uninsured and the underinsured is essentially protecting yourself, too:
The [health insurance] system is broken, and they know it. Now they're just scrambling to keep their jobs.
That second point about "working together to reduce the number of uninsured" is a cruel joke. This same company refused to write me an individual policy at any price at any deductible. They would, however, write my company a policy that covers me. That's because there's no state law in Tennessee that requires them to write individual policies, but they are required to offer employer group plans. I'm not sure what I would have done if I wasn't self employed with the means to pay the company premiums.
Prior to that, we had an individual policy that got canceled when the company decided to get out of the health insurance business and sold the policy group to another company. The new company said everyone would have to reapply but gave assurances of continued coverage. They canceled our policy and denied our new application without any explanation.
At the time that policy was canceled, we had paid approx. $100,000 in premiums over eighteen years or so, with a net present value of approx. $250,000 based on the S&P 500 rate of return during that period. The policy had a $10,000 deductible (I thought it was $5,000, but the Mrs. corrected me). They never paid out a single penny because we never filed a claim, and still haven't to this day.
We would have been better off opting out of the system and stashing the money in a mutual fund for a rainy medical day. But that's what you get for trying to be responsible and for playing a game with the deck stacked in favor of big corporations.