Several trends running through American business, society and politics in the last few years are converging around the undeniable conclusion that the way we dispense and pay for healthcare needs fixing. Company sponsored group health insurance plans no longer endure with the same carrier year after year and are providing fewer benefits while their costs increase. The middle class no longer works at the same company their entire career (as baby boomers’ fathers did) and they have been forced to change coverage as they move to new jobs or (finding themselves starting their own business in the face of persistent unemployment) buy coverage for themselves and their families. Government sponsored health insurance plans like Medicare and Medicaid are running up huge deficits with decreasing contributions to them while medical costs rise at double digit rates each year.
Each of these trends runs contrary to the principles of sound insurance underwriting: more…
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