In a ruling widely applauded by Progressives, Judge Engoron of New York ruled that "Life Insurance" is actually a form of Healthcare Insurance since death is related to health.
Furthermore, Judge Engoron explicitly stated that prior-death is a preexisting condition and preexisting conditions cannot be a basis for denying healthcare insurance coverage. Additionally, Engoron ruled that the policies had to be retroactive 30 days prior to when the purchasers purchased the policy.
"Grieving family and dead people should be given a break. They have a lot on their minds. It is not fair for greedy corporations to take advantage of them by not allowing them to back-date the start of the policy" Engoron is reported to have said.
It was also reported that President Biden's Department of Justice pledged to use the full extent of the law to investigate insurance companies who either raised their rates in New York or who withdrew from the New York Life Insurance market after Engoron's ruling.
Not far off some future truth, unfortunately.
ReplyDeleteIsn't health insurance a tax deductible medical expense? Something tells me that the IRS woud have the DOJ stomp on this judge.
ReplyDelete" Additionally, Engoron ruled that the policies had to be retroactive 30 days prior to when the purchasers purchased the policy."
ReplyDeleteSo.....I can comb the obituaries to find people to insure and cash in? Sweet Deal, sign me up. Until the insurance companies either go broke or move out of the state I'm rich (and if DOJ makes it federal, I'll be able to make more money than the government can print, at least for a while....).
All I can say is "Holy #%@#, we're doomed, and in ways I never imagined."
You must have insurable interest at the time of issue narrowing down the scam potential. Also, you generally have to show for a physical to get the insurance. The insured must also sign. This ruling is stupid and makes business difficult in NY just one more way. what will be the proverbial straw?
DeleteAnon a mice did you miss the title of this post?
DeleteFAKE NEWS FRIDAY
Poe's Law is kicking in ... OK, our host DID state that it was fake news but nowadays, you can't be sure.
ReplyDeleteWatch this space, as they say and remember Freddy Mac and Fanny Mae as an example of what COULD happen if there are votes in it for the politicians.
Phil B
Trump and the conservative right need to attack NY. Start by shipping as many 'newcomers' to NY*. While that is going on a public campaign to notify NY business' that severe funding shortages are imminent and they are the next up to support the state. Reminders of how Eminent Domain was to only be used rarely and is now fommonplac. Third track is to push commies in NY to follow the Trump model to 'get' those capitalists!
ReplyDelete*Of course we should consider Baltimore's need for strength and start sending diversity to strengthen them in this time of need. Maybe find a South American or African country that hasn't emptied its prisons yet and make a deal. Hey, would it be illegal for a governor to do what the pResident is doing?
Had to stop a check this one....with the insanity that's rampant these days there was a good chance this wasn't satire.....
ReplyDelete