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re: Rush on pre-existing ...it's not insurance, it's welfare
Posted on 2/27/20 at 10:28 am to TBoy
Posted on 2/27/20 at 10:28 am to TBoy
quote:
And if the insured with the PEC has been paying premium into his former group, his leaving his former group, which has received the actuarially adjusted premium to factor in that condition, gets a windfall.
Not true, if you understand the fundamental essence of insurance: the spreading of financial risk. If a person has a PEC, even what they were paying into the previous plan is FAR less than the cost of the PEC. That's why we buy insurance -- to spread the risk and associated costs.
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