08-02-2017, 08:13 PM
(08-02-2017, 08:08 PM)Belsnickel Wrote: My question would be what does being licensed mean? Does it mean they have to cover certain things? Does it put restrictions on premiums and deductibles? Does it require coverage for dependents up to a certain age or not denying based on pre-existing conditions?
The issue is that without things like this you will still see a situation of crappy plans, and if you try to put those regulations in place you will lose conservative support.
Well, of course it would mean a lot of things. For example (I would imagine) that licensure would ensure that the company is not only financially stable enough to last, but certain minimum parameters would be established for the minimum level plans, to ensure that every American is at least guaranteed a specified level of coverage. I would think that a rate bureau would have to be established to study risk and set rates for specific markets, similar to auto insurance industry. Keep in mind, this is all just an idea. Cloud talk, if you will.
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