subject: Cap Eliminations And Your Future Health Insurance [print this page] Having a health insurance policy with a lifetime maximum amount is really a risky position to be in and a bad position to be in concerning your future health care. If you can see into your future and know with certainty that one of these policies will meet your needs, you don't need to read any farther. As any health care professional can tell you; just one major health issue can easily deplete these million dollar and beyond policies, leaving you to the mercy of no health care unless you are capable of paying for it yourself. This is not the ideal time to find out how your insurance company really feels about your health.
Realizing the risk that these lifetime maximum health insurance policies could have on policy holders gave the government a policy elimination platform to stop companies from promoting and writing these policies. This would seem like a caring and protective move by the government, but hold off on deciding if this is really a good move until you have all the facts.
The Federal Government is dictating to the insurance companies to eliminate this lifetime maximum option in your policy. In order to cover the additional health care cost of these policy holders, the cost of their policy will experience a significant increase in premium amounts the following year. This is the trade off to the insurance company in exchange for the government's insistence to eliminate the lifetime maximum cap, if you are currently enrolled in one such health care insurance plan.
The government's position is quite simple; after all the dust settles in the long run, everything will average out for both the insurance company and the individual policy holder. However this is just one of the many government changes about to take place on the health care landscape and the cost will most likely shift to the shoulders of the policy holders.
This government plan in theory, will be good for every ones health care. What is still unclear, is the answer to the question; who is going to pay of all these new changes? The American middle class is already paying the bulk of their own health insurance costs. It is already a known fact, that the elderly and the young won't be bothered with any rate increases, so that would throw the extra cost over onto the already burdened middle class adults and fuel the already hot health care debate.
by: Ethan Kalvin
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