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Old 03-23-2020, 08:22 PM
nearwildheaven is offline
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Join Date: Apr 2013
Posts: 14,263
Quote:
Originally Posted by Mdcastle View Post
I fulfilled my responsibility to society and got insurance rather than shirking my obligation by assuming I was too young and healthy to get sick, with a $1500 deductible and $2000 OOP max I have zero worry about it wiping out my life savings.

Pandemics are not an exclusion on your contract with the insurance company so they won't and can't limit coverage.

Insurance companies are unlikely to go insolvent either. The have investments and reinsurance, people with coronovirus either get better (or die) fairly rapidly compared to the main drain on our healthcare system- old people with chronic conditions that are kept alive year after year, and a lot of risk is borne by companies that buy health insurance for their employees and opt to partially or totally self-insure.
Also, a sizable percentage of the COVID patients who are sick enough to be hospitalized are going to be 65-plus and therefore most likely on Medicare.