Having just read a health Plan Document – one with a list of 95 exclusions – I decided to look up the definition of insurance.
From Merriam Webster: “Coverage by contract whereby one party undertakes to indemnify or guarantee another against loss by a specified contingency or peril.”
Does a health insurance policy that covers you only within a narrow network of providers satisfy this definition? It does if you’re content with the idea you’ll never need care from a non-network provider.
What about a plan excluding “MS and Rheumatoid Arthritis injectables?” Sure, if you’re certain you’ll never need those medications.
We help consumers buy health insurance every day. Most policies have limitations or exclusions. It concerns me that we can’t know how our health will change in the future.
And never is a long time!