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Medical Billing Errors - WTHELLO
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<blockquote data-quote="JimFromTN" data-source="post: 2485192" data-attributes="member: 113268"><p>Thats right, you have catastrophic insurance. Thank god for obamacare.</p><p></p><p>That is the way it works. There is absolutely nothing that prevents anyone from waiting until they are 55 years old before buying health insurance and a year later they find a clogged artery and they end up having to have heart bypass surgery after only paying a few thousand dollars in insurance premiums which means the others in the group have to cover the difference. If the insurance company did not collect enough money in insurance premiums that year to cover those expenses plus the other claims filed by others in the group, the premiums go up for everyone. There is absolutely nothing that prevents that from happening. Insurance companies need to collect enough in premiums to cover all claims plus 10% for administrative fees. If they don't, premiums go up.</p></blockquote><p></p>
[QUOTE="JimFromTN, post: 2485192, member: 113268"] Thats right, you have catastrophic insurance. Thank god for obamacare. That is the way it works. There is absolutely nothing that prevents anyone from waiting until they are 55 years old before buying health insurance and a year later they find a clogged artery and they end up having to have heart bypass surgery after only paying a few thousand dollars in insurance premiums which means the others in the group have to cover the difference. If the insurance company did not collect enough money in insurance premiums that year to cover those expenses plus the other claims filed by others in the group, the premiums go up for everyone. There is absolutely nothing that prevents that from happening. Insurance companies need to collect enough in premiums to cover all claims plus 10% for administrative fees. If they don't, premiums go up. [/QUOTE]
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