This week marks the third anniversary of the Cavalcade of Risk, started back in 2006 by Hank Stern at InsureBlog. There’s a link to the first edition, where I came across a blog – aptly titled “Jon Swift” that has captivated me for the last hour. His entry in the first COR was about how we should just buy al la carte insurance. I kept reading and have found all sorts of gems, although I haven’t yet come across any proposals that poor people start selling their children as food for the wealthy. Maybe if the recession keeps up…
Interestingly enough, the al la carte insurance idea, written as a piece of satirical genius, reminded me of policies that are sold by some of the less scrupulous health insurance carriers in Colorado. If your health insurance application is asking you to decide whether you’d like to have coverage for cancer and ambulance rides, you might want to keep shopping. Health insurance isn’t like ordering a sandwich at Subway. None of us know what might happen to us in the future. I’m a big fan of keeping premiums down by choosing a high deductible, HSA qualified plan. But if and when I meet my deductible, I want to know that I’ll be taken care of – even if I end up having a medical condition that I never imagined I’d have.