Health Insurance Requirement

Discussion in 'General Discussion' started by xotoxi, Mar 22, 2010.

  1. xotoxi
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    xotoxi Platinum Member

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    Are there any mandates as to what the minimum requirements that a health insurance company must provide?

    Because if not, then a company charge an individual a $1 monthly premium (or they can pay a lump sum of $12 annually) for their health insurance. The insurance would have no deductable and would pay the first $12 of medical expenses accrued during the year. And this could be OTC meds or any medical supply.

    Essentially, the person would be able to buy insurance for $12, meet the federal guidelines and thus avert a fine, and then they could buy some tylenol, ibuprofen, and a box of bandaids and get their $12 back.
     
  2. Care4all
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    Care4all Warrior Princess Supporting Member

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    yes, there are ''minimums'' that insurance companies on the ''exchange'' must meet...

    so your scenario will not work!
     
  3. uscitizen
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    uscitizen Senior Member

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    Yep most states have set minimums for the insurance industry.
     
  4. Valerie
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    Valerie Gold Member

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    I think they will define a standard requirement of "Minimum Creditable Coverage" just like they did in Massachusetts where if you don't comply you will get fined.

    Massachusetts Finalizes Minimum Creditable Coverage Standards. - Free Online Library
     
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