Friday, December 05, 2008

Pay As You Go© Insurance?

Let me state at the outset that I am not a fan of American Community Mutual Insurance Company (ACM). Some years ago, we parted ways over an ethics issue: I had ethics, they did not. I have no idea whether or not that's changed, and I have no desire to find out.
However, this is an insurance blog [ed: nice of you to notice, Mr Swedish health care basher], and ACM is rolling out a new product which may have some value. Called "Community Flex," it starts out as an accident policy (major claims are only paid for injury, not illness), with some coverage for doc visits, preventive care, and a drug discount card. A rider is also available for maternity coverage (no word on whether that must be "accidental," too).
A two year rate guarantee is available for folks who choose higher deductibles ($5,000 and up).
Now, if you want more coverage, such is available through a "Gold Plan" buy-up. This gets you coverage for more doctor's visits, more preventive care, and better prescription drug coverage.
Perhaps I'm missing something here, but does anyone else notice a big, glaring hole?
A free, one-year's paid subscription to IB for the first person to call it.
UPDATE: Please click here for the latest on this product.
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