by LAS
Wouldn't we all love to be assured of full income replacement if we were disabled, either short term or long term? Well, unfortunately Americans cannot get that kind of coverage, at least not if they live in the United States.
I viewed the film Sicko again and there was so much covered in there, that it was difficult to sort out all the issues. But one of the issues apart from those related to health insurance was the matter of disability insurance.
Here in the United States, one cannot get more than about 60 or 65 percent income replacement through a disability policy, whether from a private policy or through the federal government's SSI program. It is felt that people should not profit by getting injured or disabled. Well, they should not be forced to choose between rent and food, or rent and medications -- and so many of those on disability rely on several medications just to get through the day.
Tony Benn was quoted in Sicko as saying that choice depends on freedom to choose, and if you are shackled with debt, then one does not have the freedom to choose. I might add that if you are shackled with healthcare bills beyond your ability to pay, then you do not have choice or the freedom to choose, either.
But in France, the law requires that disabled people receive full pay while on disability. The government pays 65 percent, and your employer pays 35 percent. Sicko related the story of a Frenchman who was too exhausted after a course of chemo to go back to work right away, so his doctor gave him a note for a three-month leave. So the guy goes on vacation, soaks up some sun and recoups his old energy, and voila, he's a new man again.
So if you should be so lucky as to work for the French office of an American corporation, you could reap the best of both worlds. American pay with French social security -- real social security, not just a retirement check that won't cover rent, but retirement, healthcare, disability, full maternity coverage, and more.
I have read that recent years have found the French hard-pressed to pay for rising expenses even in a system that pays its doctors well but not extravagantly. Perhaps they will have to cut the less necessary fringe items like paying for vacations, or for college beyond the first two years, or or home services for new mothers.
But I sure hope that the French maintain their militant insistence that even foreign corporations have to obey French labor laws. Someone has to keep the corporations in line. And if the French will do the job, then more power to them.
Saturday, September 26, 2009
Remember the Part in 'Sicko' When Sick People Had Policies Canceled Back to Starting Point?
by LAS
The Michael Moore film Sicko threw light on many kinds of problems that ordinary people have with their health insurers. One such problem is rescission, where a company decides that it issued a policy in error (often claiming the policyholder lied or omitted required information on the application), and cancels that policy all the way back to its starting date.
This sticks the hapless policyholder with all the bills that the insurer had paid while the policy was in force. Sicko related the story of one such victim of the rescission power, who had omitted a history of yeast infection and was stuck with a $7000 surgery bill for an unrelated illness. NAIC, the regulating body for the insurance industry, has decided to take steps to curb abuse of rescission and bolster consumer protection.
NAIC sent a letter to the House Energy and Commerce Subcommittee on Oversight and Investigation. In this letter, NAIC outlined its plan to analyze rescission-related consumer complaints, and develop procedures for external reviews of these rescissions. It stated that it is determined to prevent abuses of the rescission authority, which is used by insurers to cancel policies that it decides were issued in error.
It is nice to see that Moore's film has prodded NAIC to at least examine the practice of rescission and promise to improve consumer protection. We will see what comes of this, or whether the industry will pull the teeth out of any attempts to regulate itself.
The Michael Moore film Sicko threw light on many kinds of problems that ordinary people have with their health insurers. One such problem is rescission, where a company decides that it issued a policy in error (often claiming the policyholder lied or omitted required information on the application), and cancels that policy all the way back to its starting date.
This sticks the hapless policyholder with all the bills that the insurer had paid while the policy was in force. Sicko related the story of one such victim of the rescission power, who had omitted a history of yeast infection and was stuck with a $7000 surgery bill for an unrelated illness. NAIC, the regulating body for the insurance industry, has decided to take steps to curb abuse of rescission and bolster consumer protection.
NAIC sent a letter to the House Energy and Commerce Subcommittee on Oversight and Investigation. In this letter, NAIC outlined its plan to analyze rescission-related consumer complaints, and develop procedures for external reviews of these rescissions. It stated that it is determined to prevent abuses of the rescission authority, which is used by insurers to cancel policies that it decides were issued in error.
It is nice to see that Moore's film has prodded NAIC to at least examine the practice of rescission and promise to improve consumer protection. We will see what comes of this, or whether the industry will pull the teeth out of any attempts to regulate itself.
Manulife Shareholders Threaten Class-Action Lawsuit
by LAS
The shareholders of Manulife Financial have proposed a class-action lawsuit against the executives of the firm. They charge that the execs made “false and misleading statements” about the company's risk management ability. The shareholders equate this with violating federal securities laws.
The proposal was filed with the US District Court for the Southern District of New York. Manulife has responded by saying that its financial disclosure met all legal requirements and that these issues have nothing to do with policyholders or company products.
The Canadian regulators responded first, with the Ontario Securities Commissioner issuing a statement in June. In that response, Canada's preliminary conclusion was that the company did not meet its obligation to disclose regarding market risk in its variable annuity products and segregated funds.
Geez, why is it so clear to the Canadians that Manulife was playing fast and loose with the law? Will there be any justice for the American shareholders? And why is it so difficult for Manulife to do right in the first place?
The shareholders of Manulife Financial have proposed a class-action lawsuit against the executives of the firm. They charge that the execs made “false and misleading statements” about the company's risk management ability. The shareholders equate this with violating federal securities laws.
The proposal was filed with the US District Court for the Southern District of New York. Manulife has responded by saying that its financial disclosure met all legal requirements and that these issues have nothing to do with policyholders or company products.
The Canadian regulators responded first, with the Ontario Securities Commissioner issuing a statement in June. In that response, Canada's preliminary conclusion was that the company did not meet its obligation to disclose regarding market risk in its variable annuity products and segregated funds.
Geez, why is it so clear to the Canadians that Manulife was playing fast and loose with the law? Will there be any justice for the American shareholders? And why is it so difficult for Manulife to do right in the first place?
Insurance Companies See Losses, Downgraded Fitch Ratings
by LAS
The year 2009 has seen insurance companies taking hits both in their bottom lines and in their ability to sell bonds. Fitch has downgraded all health insurers that it covers to a negative outlook. Part of the reason for the downgrades is the uncertainty of what health insurance reform will entail.
Fitch has been downgrading ratings on insurers during the first half of 2009, almost across the board. A total of 42 companies had their ratings downgraded. By contrast, only three insurers suffered downgrades in 2007, and 13 in 2008. Fitch does not expect to see more upgrades than downgrades till 2010.
MetLife suffered investment losses of $2.6 billion in just the second quarter of 2009. This loss was mainly due to derivatives, a sector that is still exacting its penalties for the industry's lack of judgment. MetLife had been using derivatives as a hedge against risks like inflation and currency fluctuations. Company net income fell from $4.3 billion in the second quarter of 2008 to $3.9 billion this year.
Oddly enough, MetLife passed the government's stress test earlier this year. It also had the lowest total potential losses compared to 18 competitors.
The Hartford Financial Services also posted a second quarter loss and missed analyst expectations. While expected to finish that quarter with a profit, instead it lost $15 million. Earnings were down 11 percent from a year ago. Earnings per share for common shareholders declined from $2.22 to $1.90 per share.
One of the few insurers to see a healthy gain in business was AAA. A.M. Best attributed AAA's superior showing to its wide marketing and distribution relationships with partner clubs.
The year 2009 has seen insurance companies taking hits both in their bottom lines and in their ability to sell bonds. Fitch has downgraded all health insurers that it covers to a negative outlook. Part of the reason for the downgrades is the uncertainty of what health insurance reform will entail.
Fitch has been downgrading ratings on insurers during the first half of 2009, almost across the board. A total of 42 companies had their ratings downgraded. By contrast, only three insurers suffered downgrades in 2007, and 13 in 2008. Fitch does not expect to see more upgrades than downgrades till 2010.
MetLife suffered investment losses of $2.6 billion in just the second quarter of 2009. This loss was mainly due to derivatives, a sector that is still exacting its penalties for the industry's lack of judgment. MetLife had been using derivatives as a hedge against risks like inflation and currency fluctuations. Company net income fell from $4.3 billion in the second quarter of 2008 to $3.9 billion this year.
Oddly enough, MetLife passed the government's stress test earlier this year. It also had the lowest total potential losses compared to 18 competitors.
The Hartford Financial Services also posted a second quarter loss and missed analyst expectations. While expected to finish that quarter with a profit, instead it lost $15 million. Earnings were down 11 percent from a year ago. Earnings per share for common shareholders declined from $2.22 to $1.90 per share.
One of the few insurers to see a healthy gain in business was AAA. A.M. Best attributed AAA's superior showing to its wide marketing and distribution relationships with partner clubs.
Sunday, September 20, 2009
2009 List of Providers of Whole Life Insurance
by L.A.S.
Whole Life insurance has seen a huge resurgence of interest in recent years. Many whole life policies are substituting for long-term care insurance for those who cannot qualify for that specific insurance policy; the fact that most whole life insurance policies can include a rider allowing for “accelerated benefits” in case of terminal illness has been a real boon for both insurers and for consumers. Also the tax benefits as opposed to an annuity or other investment is a consideration.
Many of the products listed below are only for workplace insurance offerings, but many also offer individual policies. This list may not be completely comprehensive. Please also consult the 2008 list for other companies, and your state insurance commissioners office. For the latter you can begin the search by going to NAIC online (National Assn. of Insurance Commissioners) and then click on your state; this will take you to your state's insurance commission and you will find a comprehensive listing of insurers who are licensed to operate in your state.
American Family Life Assurance Co. of Columbus (Aflac): aflac.com; 800-992-3522; all states; issue ages 18-65.
Americo Financial Life and Annuity Insurance Co.: americo.com; 800-231-0801 x 8410; all states EXCEPT AL ME MS NY VT WA, “Ultra Protector” series issue ages 50-85.
Colorado Bankers Life Insurance Co.: cbl-life.com; 800-367-7814; all states EXCEPT MN MT NJ NY ND VT WA WV; “Preferred Golden Protector” issue ages 15-85.
EMC National Life: emcnationallife.com; 800-232-5818; all states EXCEPT DE MD MA NJ NY; Workplace Increasing Whole Life issue ages 18-70. EMC National Life Co., at emcnl.com, also offers “Worksite Increasing Whole Life” for issue ages 0-70.
Equitable Life & Casualty: equilife.com; 800-352-5170; all states EXCEPT AR CA DC FL GA HI MD MA MN NJ NY NC PA WA WV WI; issue ages for Equilife Legacy 3 is 18-84. Equilife Legacy I is offered in all states EXCEPT AL CA DC HI MD MA MN NJ NY WA WI, same issue ages. Equilife Legacy II is offered in all states EXCEPT AL CA DC FL GA HI MD MA MN NJ NY NC PA WA WV WI, same issue ages.
Illinois Mutual: illinoismutual.com; 800-437-7355 x782; “Interest Sensitive Whole Life Insurance” is offered in all states EXCEPT AK HI MT NJ NY PA; issue ages for employees is 15-79.
M & O Marketing: mandomarketing.com; 800-228-5964; all states; issue ages 0-85.
Medico Insurance Co.: gomedico.com; 800-228-6080; offered in AR CO ID IA KY MO NE NV NM OK OR SC TN UT WV WY; issue ages 50-85 for “Final Expense Whole Life A04 or A05”.
National Life Insurance Co.: nationallife.com; 802-229-3333; NL LifeBuilder offered in all states, issue ages 0-85.
Royal Neighbors of America: royalneighbors.org; 800-770-4561; “Royal Prime” permanent whole life offered in all states EXCEPT AL AK DE DC HI LA MA MT NV NH NY SC VT WI WY; issue ages 0-85. Policies bought at ages 0-60 may be paid up by age 65.
Senior Market Sales Inc.: seniormarketsales.com; 402-397-3311; whole life policies offered in all states EXCEPT NY; issue ages 0-80.
Starmount Life Insurance Co.: insurancelife.com; 1-888-saylife or 888-729-5433 x112; “Value Life Gold” offered in all states EXCEPT AL DE DC HI ID IA MS MT NV NH NJ NY UT WY; issue ages 0-80.
Texas Life Insurance Co.: texaslife.com; 800-283-9233 x6845; “VPL-plus” offered in all states EXCEPT NY; issue ages 17-70 (dependents 6 mos-18 yrs).
Transamerica Worksite Marketing: transamericaworksite.com; 800-322-0426; “Transure” offered in all states EXCEPT CA FL MA MN MT NJ OR PA VT VA WA; issue ages 16-70 (children or grandchildren ages 0-24).
United of Omaha Life Insurance Co.: mutualofomaha.com; 402-351-5770; “Whole Life Express” offered in all states EXCEPT NY; issue ages 0-80.
Universal American: universalamerican.com; 800-538-1053 x8357; “Senior Tribute” final expense offered in all states EXCEPT AK HI MN MT RI WA WY; issue ages 45-85.
Unum: unum.com; 866-679-3054; “Interest Sensitive Whole Life” offered in all states; issue ages 15-80 (dependents 14 days to 24 yrs).
Whole Life insurance has seen a huge resurgence of interest in recent years. Many whole life policies are substituting for long-term care insurance for those who cannot qualify for that specific insurance policy; the fact that most whole life insurance policies can include a rider allowing for “accelerated benefits” in case of terminal illness has been a real boon for both insurers and for consumers. Also the tax benefits as opposed to an annuity or other investment is a consideration.
Many of the products listed below are only for workplace insurance offerings, but many also offer individual policies. This list may not be completely comprehensive. Please also consult the 2008 list for other companies, and your state insurance commissioners office. For the latter you can begin the search by going to NAIC online (National Assn. of Insurance Commissioners) and then click on your state; this will take you to your state's insurance commission and you will find a comprehensive listing of insurers who are licensed to operate in your state.
American Family Life Assurance Co. of Columbus (Aflac): aflac.com; 800-992-3522; all states; issue ages 18-65.
Americo Financial Life and Annuity Insurance Co.: americo.com; 800-231-0801 x 8410; all states EXCEPT AL ME MS NY VT WA, “Ultra Protector” series issue ages 50-85.
Colorado Bankers Life Insurance Co.: cbl-life.com; 800-367-7814; all states EXCEPT MN MT NJ NY ND VT WA WV; “Preferred Golden Protector” issue ages 15-85.
EMC National Life: emcnationallife.com; 800-232-5818; all states EXCEPT DE MD MA NJ NY; Workplace Increasing Whole Life issue ages 18-70. EMC National Life Co., at emcnl.com, also offers “Worksite Increasing Whole Life” for issue ages 0-70.
Equitable Life & Casualty: equilife.com; 800-352-5170; all states EXCEPT AR CA DC FL GA HI MD MA MN NJ NY NC PA WA WV WI; issue ages for Equilife Legacy 3 is 18-84. Equilife Legacy I is offered in all states EXCEPT AL CA DC HI MD MA MN NJ NY WA WI, same issue ages. Equilife Legacy II is offered in all states EXCEPT AL CA DC FL GA HI MD MA MN NJ NY NC PA WA WV WI, same issue ages.
Illinois Mutual: illinoismutual.com; 800-437-7355 x782; “Interest Sensitive Whole Life Insurance” is offered in all states EXCEPT AK HI MT NJ NY PA; issue ages for employees is 15-79.
M & O Marketing: mandomarketing.com; 800-228-5964; all states; issue ages 0-85.
Medico Insurance Co.: gomedico.com; 800-228-6080; offered in AR CO ID IA KY MO NE NV NM OK OR SC TN UT WV WY; issue ages 50-85 for “Final Expense Whole Life A04 or A05”.
National Life Insurance Co.: nationallife.com; 802-229-3333; NL LifeBuilder offered in all states, issue ages 0-85.
Royal Neighbors of America: royalneighbors.org; 800-770-4561; “Royal Prime” permanent whole life offered in all states EXCEPT AL AK DE DC HI LA MA MT NV NH NY SC VT WI WY; issue ages 0-85. Policies bought at ages 0-60 may be paid up by age 65.
Senior Market Sales Inc.: seniormarketsales.com; 402-397-3311; whole life policies offered in all states EXCEPT NY; issue ages 0-80.
Starmount Life Insurance Co.: insurancelife.com; 1-888-saylife or 888-729-5433 x112; “Value Life Gold” offered in all states EXCEPT AL DE DC HI ID IA MS MT NV NH NJ NY UT WY; issue ages 0-80.
Texas Life Insurance Co.: texaslife.com; 800-283-9233 x6845; “VPL-plus” offered in all states EXCEPT NY; issue ages 17-70 (dependents 6 mos-18 yrs).
Transamerica Worksite Marketing: transamericaworksite.com; 800-322-0426; “Transure” offered in all states EXCEPT CA FL MA MN MT NJ OR PA VT VA WA; issue ages 16-70 (children or grandchildren ages 0-24).
United of Omaha Life Insurance Co.: mutualofomaha.com; 402-351-5770; “Whole Life Express” offered in all states EXCEPT NY; issue ages 0-80.
Universal American: universalamerican.com; 800-538-1053 x8357; “Senior Tribute” final expense offered in all states EXCEPT AK HI MN MT RI WA WY; issue ages 45-85.
Unum: unum.com; 866-679-3054; “Interest Sensitive Whole Life” offered in all states; issue ages 15-80 (dependents 14 days to 24 yrs).
2009 List of Providers of 401k Plans
by L.A.S.
The following is a list of companies that offer 401k plans. It is up to date as of Fall 2009, but we cannot guarantee that it is an all-inclusive list. Please consult with your certified financial planner regarding specific features of plans that will best fit your needs. Providing this list does NOT imply endorsement, and none should be assumed. You must determine which company's plans best suit you.
All allow tax-free loans from your plan EXCEPT Redwood Administrators, and Underwriters Marketing Service. All provide 401K rollover and consolidation EXCEPT Best 401K Inc., and Omega Recordkeeping.
ADP Retirement Services: adp401k.com; 973-712-2000
Advanced Benefits Consulting: 314-539-0836
Alliance Benefit Group: abgnational.com; 800-242-2356
American Pension Services LLC: americanpension.net; 813-281-0707 x110
American United Life Insurance Co: oneamerica.com; 866-313-7355
The Best 401K Inc.:thebest401k.com; 800-430-8054
CBIZ Retirement Consulting Inc.: cbiz.com/retirement; 407-475-1765
Charles Schwab: scrs.schwab.com; 877-456-0777
CPI Qualified Plan Consultants Inc.: cpiqpc.com; 800-279-9916 x765
Daily Access Corp.: dailyaccess.com; 888-535-4322
Elite Marketing Insurance Designers of Houston: elitemktg.net; 800-477-3548
Expert Plan Inc.: expertplan.com; 609-918-2500
Future Benefits of America: fb401k.com; 901-843-7799
Gradient Investments: gradientinvestments.com; 888-824-3525
Great-West Retirement Services: gwrs.com; 800-537-2033
Guardian Insurance & Annuity Co. Inc.: guardianlife.com or guardianretirement.com; 866-390-7268
Harbor Insurance Marketing Inc.: harborins.com; 866-424-2167
ING: ingretirementplans.com; 888-639-2798
Ingham Retirement Group: ingham.com; 305-671-2200
Lafayette Life Insurance Co.: lafayettelife.com; 765-477-7411
Lincoln Trust Co.: LincolnTrustCo.com; 303-658-3000
Managed Resources: mgdresources.com; 208-773-6924
MBM Advisors Inc.: mbm-inc.com; 713-221-3117
McCready and Keene: mcak.com; 804-639-1395
Mercer: mercer.com; 857-362-2000
Mutual of Omaha: getretirementright.com; 877-401-7253
MVP Plan Administrators Inc.: mvpplanadmin.com; 866-687-6877
Noble-Davis Consulting Inc.: noblepension.com; 440-498-8408
Omega Recordkeeping Group: onlineretirement.org; 864-699-6900
The Online 401K: theonline401k.com; 877-775-4015
Paychex Inc.: paychex.com; 800-322-7292
Principal Financial Group: principal.com; 800-986-3343
Putnam Investments: putnam.com/401k; 800-719-9914
Redwood Administrators Inc.: redwoodadmin.com; 866-724-7770
The Retirement Advantage Inc.: tra401k.com; 888-872-2364
The Revzon Consulting Group: revzonconsulting.com; 877-254-7085
Securian Financial Group Inc.: securian.com; 877-876-4015
The Standard: standard.com; 877-805-1127
Transamerica Retirement Services: ta-retirement.com; 888-401-5826
Underwriters Marketing Service Inc.: callums.com; 856-727-1900
USI Consulting Group: usicg.com; 860-633-5283
Vaughan & Associates Inc.: retirementplansolutions.com; 864-271-1298
Wells Fargo: wellsfargo.com; 800-368-1225
Wellth Counselors: inthesafe.com; 970-744-4626
Best wishes!
The following is a list of companies that offer 401k plans. It is up to date as of Fall 2009, but we cannot guarantee that it is an all-inclusive list. Please consult with your certified financial planner regarding specific features of plans that will best fit your needs. Providing this list does NOT imply endorsement, and none should be assumed. You must determine which company's plans best suit you.
All allow tax-free loans from your plan EXCEPT Redwood Administrators, and Underwriters Marketing Service. All provide 401K rollover and consolidation EXCEPT Best 401K Inc., and Omega Recordkeeping.
ADP Retirement Services: adp401k.com; 973-712-2000
Advanced Benefits Consulting: 314-539-0836
Alliance Benefit Group: abgnational.com; 800-242-2356
American Pension Services LLC: americanpension.net; 813-281-0707 x110
American United Life Insurance Co: oneamerica.com; 866-313-7355
The Best 401K Inc.:thebest401k.com; 800-430-8054
CBIZ Retirement Consulting Inc.: cbiz.com/retirement; 407-475-1765
Charles Schwab: scrs.schwab.com; 877-456-0777
CPI Qualified Plan Consultants Inc.: cpiqpc.com; 800-279-9916 x765
Daily Access Corp.: dailyaccess.com; 888-535-4322
Elite Marketing Insurance Designers of Houston: elitemktg.net; 800-477-3548
Expert Plan Inc.: expertplan.com; 609-918-2500
Future Benefits of America: fb401k.com; 901-843-7799
Gradient Investments: gradientinvestments.com; 888-824-3525
Great-West Retirement Services: gwrs.com; 800-537-2033
Guardian Insurance & Annuity Co. Inc.: guardianlife.com or guardianretirement.com; 866-390-7268
Harbor Insurance Marketing Inc.: harborins.com; 866-424-2167
ING: ingretirementplans.com; 888-639-2798
Ingham Retirement Group: ingham.com; 305-671-2200
Lafayette Life Insurance Co.: lafayettelife.com; 765-477-7411
Lincoln Trust Co.: LincolnTrustCo.com; 303-658-3000
Managed Resources: mgdresources.com; 208-773-6924
MBM Advisors Inc.: mbm-inc.com; 713-221-3117
McCready and Keene: mcak.com; 804-639-1395
Mercer: mercer.com; 857-362-2000
Mutual of Omaha: getretirementright.com; 877-401-7253
MVP Plan Administrators Inc.: mvpplanadmin.com; 866-687-6877
Noble-Davis Consulting Inc.: noblepension.com; 440-498-8408
Omega Recordkeeping Group: onlineretirement.org; 864-699-6900
The Online 401K: theonline401k.com; 877-775-4015
Paychex Inc.: paychex.com; 800-322-7292
Principal Financial Group: principal.com; 800-986-3343
Putnam Investments: putnam.com/401k; 800-719-9914
Redwood Administrators Inc.: redwoodadmin.com; 866-724-7770
The Retirement Advantage Inc.: tra401k.com; 888-872-2364
The Revzon Consulting Group: revzonconsulting.com; 877-254-7085
Securian Financial Group Inc.: securian.com; 877-876-4015
The Standard: standard.com; 877-805-1127
Transamerica Retirement Services: ta-retirement.com; 888-401-5826
Underwriters Marketing Service Inc.: callums.com; 856-727-1900
USI Consulting Group: usicg.com; 860-633-5283
Vaughan & Associates Inc.: retirementplansolutions.com; 864-271-1298
Wells Fargo: wellsfargo.com; 800-368-1225
Wellth Counselors: inthesafe.com; 970-744-4626
Best wishes!
Do You Think Insurers Should Get Away with Denying Maternity Coverage by Calling a Prior C-Section a "Pre-Existing Condition"?
by L.A.S.
Another horror story seems too ridiculous to be true, but unfortunately it is. It seems that due to the lack of explicit regulation by some states, insurers can refuse to cover maternity care. This is not just a matter of a few cases of women being denied payment by the insurance company for their maternity stays in the hospital. This is built-in sexism.
Even though the Pregnancy Discrimination Act of 1978 requires employers with more than 15 workers to include maternity benefits in their insurance packages -- only 14 states require comprehensive maternity care to be included in coverage in policies sold on the individual market. Most individual insurers don't cover maternity care, and the number of plans without maternity coverage continues to rise.
See the article from SIEU at http://www.seiu.org/2009/09/insurance-companies-consider-c-section-birth-pre-existing-condition.php
Even those women who thought they had good insurance, and maternity coverage, have found themselves stuck with as much as $25,000 in health care bills that they were expected to pay out-of-pocket.
Funny, somehow it seems to me that if MEN had the babies, the insurance companies would not even try to pull stuff like this. What do you think?
Another horror story seems too ridiculous to be true, but unfortunately it is. It seems that due to the lack of explicit regulation by some states, insurers can refuse to cover maternity care. This is not just a matter of a few cases of women being denied payment by the insurance company for their maternity stays in the hospital. This is built-in sexism.
Even though the Pregnancy Discrimination Act of 1978 requires employers with more than 15 workers to include maternity benefits in their insurance packages -- only 14 states require comprehensive maternity care to be included in coverage in policies sold on the individual market. Most individual insurers don't cover maternity care, and the number of plans without maternity coverage continues to rise.
See the article from SIEU at http://www.seiu.org/2009/09/insurance-companies-consider-c-section-birth-pre-existing-condition.php
Even those women who thought they had good insurance, and maternity coverage, have found themselves stuck with as much as $25,000 in health care bills that they were expected to pay out-of-pocket.
Funny, somehow it seems to me that if MEN had the babies, the insurance companies would not even try to pull stuff like this. What do you think?
Subscribe to:
Posts (Atom)
Posts
