look up any word, like ratchet:
 
1.
A for-profit health insurance company's method of rewarding employees for finding ways to drop policyholders who have developed expensive conditions or have pre-existing medical conditions.
Winston had paid four hundred dollars a month for the last eight years - so he could have medical insurance. But because of his carrier's policy of rescission, he was dropped from his plan as soon as got sick.
by shoot and run October 05, 2009