The media has recently reported stories on how the economy - more specifically job losses and/or company closures - could have profound impact on those counting on their employer for health insurance.
Those facing a job loss at least have COBRA rights to continue coverage, albeit at premiums that may be a challenge when incomes are lost. Even more difficult are stories about people whose employer declared bankruptcy. If the group contract ceases to exist, then there can be no COBRA. Imagine being in the middle of expensive cancer treatments only to learn your employer has shut down. No COBRA! No insurance!
Is there merit to the idea that all individuals should own their own insurance? Certainly many employers could/would still continue to subsidize premiums, but "job lock" would be a thing of the past. It's too bad John McCain couldn't articulate such a common sense idea.
Everyone would choose from the broad array of policies offered by insurers as opposed to the handful of options offered by one employer.
When it comes to buying health insurance, you can do so as an individual or through your employer.
Coming soon: Will you be able to buy insurance through the state or federal government? Stay tuned . . .
Jon Rauser is president of The Rauser Agency Inc., Milwaukee. He writes an ongoing blog about the health care industry at www.rauserhealthreview.com.
3 Comments
Good point, Jon. I also ponder what I'll do about the one employee I have in Minneapolis if the state decides I have to buy my insurance through its portal without the help of a licensed insurance agent. I don't think my employee will move into Wisconsin...and at the rate we seem to be going, I can't blame him.
This proposal is all well and good but two questions:
1) Is there going be some means that people with pre-existing conditions can get the insurance they need at a price they can afford?
2) About half the bankruptcies are medically related and include people who had insurance or thought their policy insured them. What would be done to prevent that?
Jon is passionate about matters of health care reform. His common sense approach to the topic is once again shown in the points he raises.