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Now You Can Buy Insurance for Insurance

Think you'll lose health coverage? Firm will insure your right to it

By Rob Quinn,  Newser Staff

Posted Dec 3, 2008 9:23 AM CST

(Newser) – Healthy and insured but afraid you might someday lose your medical coverage? UnitedHealth has just launched a new product that lets consumers pay now for the guarantee that they’ll be able to get insurance later—even if they get sick, the New York Times reports. Critics are skeptical of the novel “Continuity” product, noting that health care changes under the new administration could render it obsolete.

"This product is taking advantage of the lack of sensible health reform that could easily solve this problem," said the chief of one consumer advocacy group. A UnitedHealth exec disagrees, calling Continuity a "terrific hedge" that could trump the offerings of a government reform plan. Expected to launch in the next few weeks, Continuity will charge policyholders 20% of the current premium on their future policy each month.

Health insurance experts are lukewarm on UnitedHealth's new 'Continuity' product, offering insurance on insurability.
Health insurance experts are lukewarm on UnitedHealth's new 'Continuity' product, offering insurance on insurability.   (Shutter Stock)
Tom Daschle has accepted President-elect Barack Obama's offer to be secretary of health and human services and is expected to push for insurance reforms.
Tom Daschle has accepted President-elect Barack Obama's offer to be secretary of health and human services and is expected to push for insurance reforms.   (AP Photo/Charles Dharapak)
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It's an attempt to have a market solution to a market failure. - Peter V. Lee, executive director of national health policy for the Pacific Business Group on Health

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COMMENTS
Showing 3 of 3 comments
Shannonals
Dec 3, 2008 2:01 AM CST
Idiotic
Thinker
Dec 2, 2008 10:56 PM CST
If nearly 50 million people are unable to pay for medical insurance now, how will they be able to pay for insurance to insure their insurance coverage???? Stupid, stupid idea by some really out-of-touch CEOs. Not surprising in the least.
Newser001
Dec 2, 2008 9:44 PM CST
This is the same mentality AIG pitched with its plethora of insurance valuations - and the same reason it failed when the policies were called upon... Zay moykhl!

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