Rescinding health policies of 20,000 people in past five years saved health insurers $300 million
For years, Americans have heard news stories about the sick patient whose health insurance policy was rescinded in the midst of a health crisis. Now comes public acknowledgement—at a Congressional hearing no less—that this business practice exists!
Executives from three of the nation’s largest health insurers admitted to this practice when testifying at a Congressional investigation recently. Observers believe the surprisingly candid acknowledgement about health insurance recissions pretty much guarantees insurers will be excluded from the health care reform debate. It may even ensure inclusion of a government health insurance plan in the final legislation which passes. (more…)