The Affordable Care Act has one clear accomplishment that no one will debate – suddenly everyone loves their old health insurance.
It used to be we all complained about insurance companies ripping us off, changing our doctors, canceling coverage, making us fill out forms in the ambulance – now we miss all that.
But don’t worry. The president has announced that, for a year anyway, the good old days are back. Insurance companies will be allowed extend those now-beloved polices, if states allow it. Some state insurance commissioners, like California’s Dave Jones, will, “do everything within my power to urge companies, follow the president’s call.”
Others, like Washington State’s Mike Kreidler, will not, “That would really be injurious to the insurance market in the state of Washington.”
And if you ask him, “What about people who’ve now grown fond of their old insurance?”
“Some out there like to have these skinny policies, but as soon as they have bad luck, they want to jump back into the market and have full coverage,” says Kreidler. “That really harms the purpose of insurance.”
That is the annoying thing about insurance, isn’t it? And not just health insurance. The mortgage company makes you buy home insurance even if you promise never to set your house on fire. And frankly, most of us don’t really need home insurance until the radar track shows the hurricane is headed this way.
Insurance is the one product they make you buy before you need it.
I think we’d cheerfully accept the idea of universal insurance, if only there was a system where you could buy it when you actually need it. You’d consult a competent psychic once a week – call your agent, buy what you need, problem solved.