UnitedHealthcare announced an interesting new product the other day that, in essence, is designed to insure your insurability. As I understand it, UnitedHealth Continuity enables a consumer to purchase individual health insurance at any time, but not activate it until they feel they need it. In other words, a 50 year-old-person who’s planning to retire at 55 can buy the insurance-to-insure now, while they’re covered under their employer’s health plan and presumably healthy, and then buy the full individual coverage once they retire and/or lose their employer’s benefits. Should the individual develop a chronic illness in those five years between the purchase and the activation of the plan, they’re covered, no pre-existing conditions questions asked. United’s Web site says the policy is also aimed at people who decide to become self-employed, suddenly find themselves unemployed or take a different job without benefits. Users can turn the coverage “on” or “off” as they need it as many times as they want.

This novel concept illustrates how the health care industry is adjusting to the current state of the economy. United has seemingly done its homework and come up with an innovative product to capitalize on new and different opportunities. I think we’ll see a lot more of this going forward as economic conditions force businesses in general and health care entities in particular to be more inventive and think outside of the box. Old products (including this UHG Continuity offering) may become obsolete in the near future, depending on what systemic changes the new administration is able to implement, but change inevitably brings renewed opportunity as well. I'm told that the Chinese symbol for "crisis" is the combination of the symbols for "danger" and "opportunity." Perhaps something good — innovation — can come out of the economic crisis after all!