Should health insurance companies be able to deny coverage on the basis of pre-existing conditions?
Health insurance companies are just that – companies, and their prime purpose is to make a profit for their shareholders, so they are bound to exclude pre-existing conditions. That’s why I’ve never understood why any country would rely on a healthcare system provided almost entirely by commercial undertakings.
Of course, that is what makes them an INSURANCE company. Insurance is not a system to get other people to pay for your commodities. Rather, insurance is a service you buy to spread financial risk. If you buy homeowners insurance after your house burns down, should the insurance company have to pay to rebuild your house? Of course not. You buy insurance to protect against the risk of financial loss as a result of some future event. If you get in a car accident and the cost to fix your car is $5000, should you be able to run out and buy insurance after the fact for $100 per month, and then have the insurance company pay for the repairs? Of course not, as insurance protects against the risk of financial loss due to some future event. Health insurance is no different. You buy health insurance to protect against the financial loss resulting in some future healthcare expense.
