Not Quite Ready for Prime Time�

�Belay that line!� In rock-climbing, it means controlling one�s rope to prevent a nasty spill; in insurance, it apparently now means the latest gizmo from the minds of United Healthcare:

According to UHC, working stiffs make up a sizeable percentage of �the uninsured,� and are prime candidates for affordable health insurance. Their latest offering, called �Belay,� is built on a High Deductible Health Plan (HDHP) chassis, and comes in two models: with an HSA (Health Savings Account) and without. Sold directly to unsuspecting consumers through the Golden Rule distribution channel, these plans appear to directly challenge the notion that HDHP�s are primarily for �the wealthy.�

It�s an intriguing idea, and one which, on its face, appears to be the answer to a lot of prayers: high deductible, low cost, and easy to understand. Initially available only in the Cleveland and Chicago markets, no one can accuse UHC of over-reaching. And certainly, any effort toward reducing the number of folks without insurance at a given time is to be commended.

But I remain underwhelmed.

Why is that, you may ask?

Well, for one thing, Golden Rule has a (well deserved) reputation of being quite stringent in their underwriting. While that�s not necessarily a bad thing, it�s not something the layperson would be expected to know. Professional agents do, though, and can offer suggestions about which carriers a given client should be considering. But Belay isn�t available from agents, only directly from the carrier, which could leave consumers worse off if they�re declined.

For another thing, the press release touts how easy it is to sign up: �just click here.� Problem is, that just takes you to the regular GR site; even feeding in a Cleveland address gets one zero info on Belay (is Belay delayed?).

Expect a lot of hoopla surrounding this newest venture (they�re bringing in a professional rock climber for the official �rollout"); what follows should tell us whether or not this is indeed an idea whose time has come, or whether it�ll end up �on the rocks�.