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View Diary: Will Obamacare reduce health insurance instability? (16 comments)

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  •  I am curious as to whether Obamacare (2+ / 0-)
    Recommended by:
    Wee Mama, rhutcheson

    will reduce what I called the pump and dump.

    For small employers, you'd be with a insurance company for a 2-3 years with them raising the premium a hefty but tolerable amount each year, then one year out of the blue they'd hit you with a premium increase so big it was clearly designed to send you out into the market to find another policy.

    It was like they had some formula that indicated when they'd maximized profits on a group policy (the pump) and then it is was time to dump the group before someone developed a Very Expensive Illness.

    Sort of a game of hot potato, if you will.

    Then the poor office manager would have to devote untold hours to getting new quotes, every employee would have to fill out those 10 year health histories for each family member for each prospective insurer...I cringe thinking of all the wasted man hours.

    Finally, a you'd get quote that wasn't as excruciating as what your old company was offering, you'd sign on with a new insurance company, then they'd pump and dump again.  It's been going on for roughly the last 15 years.

    I hope it will stop.  I would be so happy to pay a fair price for decent insurance and then to spend less of my waking life addressing this issue.

    If you want something other than the obvious to happen; you've got to do something other than the obvious. Douglas Adams

    by trillian on Mon Jul 14, 2014 at 10:17:55 AM PDT

    •  I hope that someday few employers (0+ / 0-)

      offer health insurance, except perhaps to their very top execs, which will level the playing field and make it more affordable for all in a more competitive and lucrative individual market. And that eventually most private insurers go bust as well, as people self-insure through non-profit associations.

      "Reagan's dead, and he was a lousy president" -- Keith Olbermann 4/22/09

      by kovie on Tue Jul 15, 2014 at 04:55:23 PM PDT

      [ Parent ]

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