Posted: 12 Aug 2014 02:40 AM PDT
Yves
here. Obamacare is proving to be a graduate-level course in the study
of craponomics. What distinguished good old fashioned mere shoddiness
from crapification is that crapification is institutionalized and on its
way to becoming systemic. And as this discussion illustrates, one
often-used ploy is unnecessary product complexity, so that what
Elizabeth Warren called "tricks and traps" can be characterized as
consumer neglect and error, meaning they and not the sneaky, misleading
vendor are at fault.
We were early to point out that Obamacare would do nothing to eliminate
the widespread practice by insurers of canceling coverage when
policy-holders submit large claims, meaning when they expect the
insurance to act like insurance. The reason was that it continues to
allow insurers to cancel policies for fraud, and the definition of fraud
is astonishingly broad. http://www.nakedcapitalism.com/2014/08/obamacare-complexity-crapification-mean-rescission-abuses-alive-well.html?utm_source=feedburner&utm_medium=email&utm_campaign=Feed%3A+NakedCapitalism+%28naked+capitalism%29
Reflections from news and commentary of the day
Subscribe To
Posts
Comments
No comments:
Post a Comment