Getting Real About Healthcare Insurance

This may be old hat for those of you who have been following the healthcare insurance debate but this article is a stark example of why healthcare insurance needs mediation beyond just the "free market." Written by Wendell Potter, who is a former healthcare insurance executive, this story is a cautionary tale. Sometimes we forget that lives are on the line.

Not all healthcare insurers are callous enough to act as this one did, but they all are answerable to their shareholders which means, unless there specific regulation prohibiting such behavior, there are strong incentives to deny coverage for expensive treatments. In the overall scheme of things, I think everyone will be better off with coverage denials taken off the table. The only way for this to make sense economically, however, is to widen the risk pool. Personally, I am looking forward to the day when I am eligible for Medicare. Until then, I can live with the individual mandate of healthcare reform.