Insurance Risk

October 15, 2009

Wendy Williams and her husband are happy with their health insurance. Unfortunately, the Massachusetts government isn't. She writes in The Wall Street Journal that their policy caps out-of-pocket expenses at $2,500. The state, which requires everyone to have insurance or pay a penalty, says plans should cap out-of-pocket expenses at $2,000. So it's forcing Williams to either pay a $1,000 a year penalty or get a different health insurance plan, one she says would cost about $500 a month more.