■ We've written before about the so-called 'Secondary Market' for life insurance:
"And so, as part of HIPAA, a new word entered the popular lexicon: viatical. Basically, one can sell one's plan to a 3rd party with little (or no) tax consequence."
But of course, the good ol' US of A isn't the only place on Earth where this type of sale takes place. Our Neighbors to the North also have this available, but it's getting a little more 'iffy' as to the buyer's benefits. According to FoIB Allison Bell:
"Manulife Financial Corp. and other Canadian life insurers won a legal battle against hedge funds that contended the insurers should be compelled to take unlimited deposits into high-yielding investment policies."
This basically serves to limit the tax-advantaged growth available to certain plans, and re-focuses on the death benefit itself. Will be interesting to see if these restrictions wend their way here.
■ One of our most enduring memes here is that coverage ≠ care; that is, insurance doesn't guarantee that actual care will be available, either quickly or even at all. And so we look again at CanuckCare© as a warning to those who advocate idea of MedicareForAll:
Be careful what you wish for.
■ And piling on, we look Across the Pond to Britain's Much Vaunted National Health Service©:
"HIP replacements, cataracts, varicose veins and tonsillectomies are among a string of surgical operations that will no longer routinely be carried out on the NHS "
[Hat Tip: Sally Pipes]
Since even (especially?) socialized medical care schemes have proven unsuccessful at reining in the cost of care, the only viable alternative is toration deny it.
Cheerio!
"And so, as part of HIPAA, a new word entered the popular lexicon: viatical. Basically, one can sell one's plan to a 3rd party with little (or no) tax consequence."
But of course, the good ol' US of A isn't the only place on Earth where this type of sale takes place. Our Neighbors to the North also have this available, but it's getting a little more 'iffy' as to the buyer's benefits. According to FoIB Allison Bell:
"Manulife Financial Corp. and other Canadian life insurers won a legal battle against hedge funds that contended the insurers should be compelled to take unlimited deposits into high-yielding investment policies."
This basically serves to limit the tax-advantaged growth available to certain plans, and re-focuses on the death benefit itself. Will be interesting to see if these restrictions wend their way here.
■ One of our most enduring memes here is that coverage ≠ care; that is, insurance doesn't guarantee that actual care will be available, either quickly or even at all. And so we look again at CanuckCare© as a warning to those who advocate idea of MedicareForAll:
Yes & many USers don't know or just ignore wait time. More info @FraserInstitute https://t.co/YwCFJLN3wn— Kitty Antonik Wakfer (@KittyAntonik) March 18, 2019
Beyond waiting is that ppl in Canada can't directly make specialist appts. No looking up online/in yellow pages & just phone for appt. Must go thru GP first & little choice.
Be careful what you wish for.
■ And piling on, we look Across the Pond to Britain's Much Vaunted National Health Service©:
"HIP replacements, cataracts, varicose veins and tonsillectomies are among a string of surgical operations that will no longer routinely be carried out on the NHS "
[Hat Tip: Sally Pipes]
Since even (especially?) socialized medical care schemes have proven unsuccessful at reining in the cost of care, the only viable alternative is to
Cheerio!
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