by masteris009 » Wed Oct 22, 2008 06:55 pm
Gov. Arnold Schwarzenegger vetoed a bill Tuesday that would have cracked down on health insurance companies that cancel policies of people who make expensive claims.
Schwarzenegger, in a memo to lawmakers, called the so-called rescission practice “deplorable,” but noted he vetoed the bill because it lacked several consumer protections and was “written by the attorneys that stand to benefit from its provisions.”
Schwarzenegger, in a memo to lawmakers, called the so-called rescission practice “deplorable,” but noted he vetoed the bill because it lacked several consumer protections and was “written by the attorneys that stand to benefit from its provisions.”
Posted: Thu Oct 23, 2008 09:56 am Post Subject:
Canceling the plans for submitting expensive claims IMO defy the very basic purpose of purchasing the cover. People invest in such plans to receive protection at the time of the need, hence, the threat that their policy may get void if they place expensive claims may further lower the number of people opting for coverage.
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