You Do Not Have Health Insurance

So says James Kwak, and he is completely correct:

...That’s not insurance; that’s employer-subsidized health care for the duration of your employment.

...

In addition, there is the problem that even if you are nominally covered when you do get sick, your insurer could rescind your policy, or you may find out, as Karen Tumulty’s brother did, that your insurance doesn’t cover the treatment you need.

Just read the whole thing.