The New York Times has an excellent article focusing on the financial stability of state high risk pool plans. As the author points out, most people do not enroll in high risk plans because of the high risk premiums. Of course, if people would just buy their health insurance BEFORE they need it, we’d have a lot fewer problems in the healthcare business.
I’ve been marketing health plans since 1980 and I still am amazed at how many people, otherwise intelligent, just don’t quite “get it” when it comes to understanding what health insurance really is, what it does, and how it works. Moreover, health insurance has become known as an entitlement (thanks Ted Kennedy).
People use common sense to understand that they can’t buy homeowner’s insurance on a burning house; they can’t buy life insurance on dead people; and they can’t buy car insurance on a vehicle that has been totaled in a wreck. Yet for some insidious reason, those same people seem to believe that they do not need to consider purchasing health insurance until they actually “need it.”
Well, it’s too late then folks.
You get what you deserve at that point.
(Never was one for subtlety)