PreExisting Conditions

Imagine that you own a car. Driving along one day, you’re broadsided, through no fault of your own, and your car is severely damaged. So, you wander on off to GEICO, buy a policy, and demand that they fix your car.

Welcome to the wonderful world of "pre-existing conditions".

While folks with pre-existing conditions may make a good, sympathetic case, one thing they are not is unfairly treated by insurance carriers. Because the service they seek is not insurance – which is all about setting rates based upon the risk of certain events transpiring – but welfare: getting someone else to pay your existing bills.

NJ already enjoys the highest insurance rates in the nation, precisely because of community rating, shall issue, and numerous, hugely expensive coverage mandates. Now, the Pres proposes to bring these policies national.

This will save money ... how?