The media has recently reported stories on how the economy – more specifically job losses and/or company closures – could have profound impact on those counting on their employer for health insurance.
Those facing a job loss at least have COBRA rights to continue coverage, albeit at premiums that may be a challenge when incomes are lost. Even more difficult are stories about people whose employer declared bankruptcy. If the group contract ceases to exist, then there can be no COBRA. Imagine being in the middle of expensive cancer treatments only to learn your employer has shut down. No COBRA! No insurance!
Is there merit to the idea that all individuals should own their own insurance? Certainly many employers could/would still continue to subsidize premiums, but "job lock" would be a thing of the past. It’s too bad John McCain couldn’t articulate such a common sense idea.
Everyone would choose from the broad array of policies offered by insurers as opposed to the handful of options offered by one employer.
When it comes to buying health insurance, you can do so as an individual or through your employer.
Coming soon: Will you be able to buy insurance through the state or federal government? Stay tuned . . .
Jon Rauser is president of The Rauser Agency Inc., Milwaukee. He writes an ongoing blog about the health care industry at www.rauserhealthreview.com.
