News reports state that "ABC", a health insurance company, will be forcing some 8 million customers to pay their insurance monthly with hefty fees attached to credit card payments. See column in LA Times.
Monthly statements would cost $2 and the only payment option without a fee would be allowing ABC to take payments directly out of a checking account.
I have always avoided allowing anyone to take money directly out of my checking, the only exception being my gym. The problem is you have to contact the business to stop, and they tell you when they will end the deduction.
Somewhat related in my mind is how government is more and more issuing benefits on debit cards. The bank charges a fee to recipients, and probably charges government too! (Remember the bailout of 2008!)
The lesson learned from the recent economic hardship is how lucrative fees can be. Ask the banks who made tons of money from credit cards fees: late payments, over-limit charges, overdraft checks, etc.
All are examples of legalized pickpocketing!
