HEALTHCARE INSURANCE. People have a warped perception of health care insurance. The primary misperception is that most don’t recognize what insurance is meant for in the first place. Insurance is a risk management tool. But instead, people think of healthcare insurance as a form of a subscription to receive health care services or as a payment channel for services. Secondly, people assume that their healthcare coverage should cover everything. It doesn’t. Every insurance policy is a contract that lays out the specifics of what is covered and what is not. People seem to understand insurance in the context of homeowners insurance or auto insurance. But healthcare insurance is one where many people are disconnected from reality. For example, people understand that maintenance, repair, checkups and diagnostics are not covered with home and auto insurance. But they expect that to be all covered by health insurance.
RICKEY HENDERSON. For the last 15 or so years I will leave the name ‘Rickey’ when placing food orders, getting on restaurant waiting list, etc. It’s great to hear his name celebrated. Just my way of paying tribute to The Greatest.