Bring Back True Catastrophic Insurance!

Our proposal for catastrophic insurance:

True Catastrophic Insurance – A First Step in Fixing the Healthcare Mess

We believe Obamacare will not be repealed as long as Barack Obama is in office. Thus, we have embarked on a strategy of tearing Obamacare down brick-by-brick, starting with bringing back true catastrophic insurance (major medical).  Our aim is to get more of the pieces of the healthcare system moving in the direction of less government intervention, not more.  It is our hope that repeal forces can rally around our strategy.

The sale of true catastrophic insurance should be encouraged and expanded through the following legislative changes, notwithstanding any other provision of state or federal law:

  • Allow the sale of true catastrophic insurance (annual policies for the individual market) across state lines without state or federal coverage mandates
  • Let the market determine deductibles and define catastrophic injuries and illnesses
  • Permit consumer choice add-ons for any missing major medical components, tests, cosmetic surgery, family vaccinations, evolving treatment coverage, preexisting condition preinsurance, and other electives as priced by the market
  • Ensure such plans are fully portable to any state or doctor (i.e., the policy carries its own information with it)
  • Allow lifetime caps as determined and priced by the market
  • Permit an optional arbitration clause to reduce premiums by staying out of court in the event of a dispute
  • Allow an optional health savings account (HSA) with consumers free to park the money in investment accounts, not just low-yielding interest-bearing accounts
  • Prevent jurisdictions from outlawing the sale of off-exchange insurance (or sabotaging it by ‘slow-rolling’ or otherwise hanging up applications in state offices, as is currently the case in California)
  • Make it clear that insurance companies do not have to offer an ACA-compliant plan in order to offer true catastrophic policies. Let companies be in this market if they want, regardless of whether or not they also want to be in the Obamacare market
  • Last, but not least, rename the pseudo-catastrophic insurance in Obamacare to something else
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