3 ms·
> Why shouldn't pre-existing conditions be used to determine the price of your premiums? It directly impacts the amount of the insurance you're going to consume
by chimeracoder 13y ago
> Why shouldn't pre-existing conditions be used to determine the price of your premiums? It directly impacts the amount of the insurance you're going to consume.
I never said it shouldn't - but people seem to be under the impression that it doesn't. I commonly see statements to the effect of, "I don't care what the insurance companies know about me, since they have to provide me coverage." Maybe that's true if the only thing that matters to you is whether or not you have some form of insurance, at any cost, but that's not the case for most people.
As for whether or not it should be considered, that's a value judgement (and therefore inherently subjective). Do you believe that all people should pay the same amount for insurance that covers events beyond their control (ie, congenital diseases/defects[0])? You might argue that it's unfair to hide that information from the insurance companies or prevent them from acting on that (because information asymmetry in free markets is bad[1]), or you could argue that it's the responsibility of society to care for those who have conditions that require expensive treatment just to stay alive (because letting people die of preventable diseases is bad).
[I don't have an answer for that - I'm just clarifying the question, since you brought it up. :)]
[0] I use the example of congenital diseases because one does have influence over one's own chance of getting lung cancer (ie, if you don't smoke, the chances are far lower), but not for congenital diseases (your mother may have had some influence over that, but you yourself certainly didn't).
[1] Alternative argument: These costs just get spread to everyone who is insured. Assume the country consists of two people (Alice and Bob). If the true (expected) cost of insuring Alice and Bob are $50 and $100, it's unfair to Alice to force them both to "split the difference" and be insured at $75 each.