By Ecklebob Chiselfritz
Health insurance companies used to price policy premiums and deductibles utilizing criteria that included, but was not limited to...
(1) A cap on the policy holders annual benefits
(2) A cap on the policy holders lifetime benefits
(3) A "grading" of preexisting conditions
Obamacare erased all three parameters.
Now the consumer has a government mandated health insurance blank check for life that is blowing up in the policy holders faces like letter bombs.
Health insurance policies MUST cover policy holders even if their annual/lifetime claims exceed something as obscenely out of sight as our national debt. There is no limit.
The same with preexisting conditions. Insurance companies used to be able to say, "Dude, you and your family all have leprosy. Therefore your premium is going to cost more than a family of non lepers."
Not anymore. Insurance companies have to accept everyone. No caveats or exclusions.
Insurance companies used to put a cap on annual/lifetime bennies so they would have a real world baseline formula to calculate premiums/deductibles.
Now that the sky is the limit on annual/lifetime benefits so is the sky on premiums/deductibles.
Someone has to pay the Socialist piper.
Anything the GOP does to fiddle and fart around with Obamacare is totally meaningless if these issues aren't addressed.
There is no simple or painless fix since Obama let the genie out of the bottle.
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