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No, but expecting their uninsured deposits to be retroactively insured is. Imagine some homeowner called up Allstate saying, "Hey, my house burned down last we
by wpietri 4y ago
No, but expecting their uninsured deposits to be retroactively insured is.
Imagine some homeowner called up Allstate saying, "Hey, my house burned down last week, can I get that covered even though I don't have insurance?" We'd laugh at them. I get that it sucks for them, and they're going to have some Kubler-Ross time ahead. But that doesn't mean that somebody else should bail them out.
- bombcar 4y agoHealth insurance now works basically that way. And some other forms let you actually “come current” before a claim, but it varies.
- wpietri 4y agoIs there a health insurance provider that will cover past costs? I've never heard of one. They do of course cover future costs of existing illnesses, but that's thanks to a fair bit of special lawmaking and cost-sharing mechanisms. Neither of which exist for homeowner insurance. Or bank failure, for that matter.
- lazide 4y agoCOBRA is retroactive.
- SoftTalker 4y agoYeah but you have to pay the premiums retroactively also.
- lazide 4y agoBut you can decide to do so only after you have a reason to do so. Which is the retroactive part.
- bombcar 4y agoAs mentioned COBRA is actually retroactive but even normal insurance can be bought after a diagnosis and before a treatment. Which would be like buying fire insurance after calling 911 but before the trucks arrive.
- FireBeyond 4y agoHealth insurance is really only insurance in name only. In between deductibles, and then copays, and then coinsurance, denials for all sorts of things, health insurance is really just amortized payments + cost negotiations.