Are Health Insurance Agents Going The Way Of The Travel Agent?

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Are Health Insurance Agents Going The Way Of The Travel Agent?

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The Obama administration made it a point to require insurance companies to provide health care coverage to children without imposing any limitations or exclusions. This is a notable feature of the amended health care laws. Insurance companies complied with the new legislation, and the government was satisfied. About four months into the implementation of the new rules, however, insurers found a loophole. Without any form of limitation or restriction, parents can choose to buy insurance only when their children become ill, and insurance companies would then have to pay up immediately. Conceding to insurers’ point, the government updated the law to allow insurance companies to impose a specific enrollment periods for minors (anyone under 19 years of age) in an individual or family health insurance policy. This means that, parents can buy insurance for their children only during specific dates in a year. This issue shows that the new legislation still has some kinks that need to be worked