PoliticsRx Political Prescription

Democratic Rep. Keith Ellison

via BofA denies that practices hurt consumers – Yahoo! Finance.

Posted under Corruption, Government Bailout

Did you know your insurance company might cancel your policy if you’ve developed a serious condition, but, in good faith, omitted a previous minor, unrelated treatment?

Witnesses testified, that after having paid on an insurance policy for years, their coverage and claims were denied for virtually “any reason”, whether related or unrelated to the condition (e.g. having been treated for acne).

Watch the video to see these companies’ responses when asked if they would commit to no longer rescinding policies as a result of unrelated minor omissions!

Once you’ve seen enough of their shady practices, please provide feedback to your lawmaker, or click here to visit NCPIRG.org.

Under the current healthcare environment:

• If you develop a condition (anything), you may not be able to change insurance companies; Your current insurer knows this, and can essentially set any rate they want, or drop you altogether and/or potentially refuse the coverage you’ve been paying for.
• Essentially, like many credit card contracts, they can change the terms, for any reason, at any time; forget your previous “agreements”
• Insurers know that if you are forking over funding for the healthcare you insured, you probably can’t afford legal assistance (sound like credit-card-company “sweatboxing”*?)

* Sweatboxing is a practice of credit card companies, where they raise rates and fees, so as to put the borrower in a position of “not being able to escape”.  This model is based on the premise that the borrower will continue to pay on interest and fees, for as long as possible, without having the ability to fully pay the debt – essentially forcing the borrower to pay an endless, after-the-fact stream of income to the lender.

Posted under Corruption, Healthcare, Keeping Informed