LETTER TO THE EDITOR

To the editor The insurance industry in Michigan and their legislators are betting the consumers in bad times like these will be "Penny Wise and Pound Foolish," as Ben Franklin put it in Colonial Pennsylvania when the pound was the British currency dollar. Why? Because Michigan's Auto No Fault law requires all drivers to buy basic No Fault personal injury protection that includes lifetime payment of medical expenses to treat auto related injuries if needed. The insurance industry wants to change that to a stated dollar maximum, say at $250,000, or $500,000 in exchange for a "promised" rate reduction. How much reduction? According to the Insurance Institute of Michigan, the reduction may be $11 a month if you also drop collision damage coverage. What the consumer would get in return is the capped amount of medical coverage. The lower amount might cover the Emergency Room visit for a serious injury. Then you are on your own, or more likely on Medicaid. Medicaid mean payment from all of us, the tax payers. Penny wise and dollar foolish if we fail to let our Representatives in Lansing hear our voices that this change in No-Fault law is not in the best interests of the people of Michigan. For more detail get a copy of NPR's Lester Graham and Michigan Watch reprint of their recent broadcast at http://www.mcihganradio.org/no-fault-insurance-changes-could-shift-cost-taxpayers. Otis M. Underwood Jr. and Francis P. Hughes, Attorneys and co-authors of "A Personal Guide to Michigan No-Fault Benefits" Oxford, Mich. Published: Fri, Oct 14, 2011