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| Health Insurance Coverage: Tips & Insight »
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An "obesity penalty" has been talked about before in order to offset the costs incurred in medical insurance, but now Alabama group health insurance might be the first to actually implement such a plan. WebMD reports that obese Alabama state workers may soon pay a group health insurance penalty for excess weight. In January of 2009 employees will be weighed, and will have a year to get in shape if their BMI (body mass index) is too high. The penalty for those who don't? About $25 per month more in premiums. Critics of the plan argue that such a penalty amounts to discrimination, and that there are many factors, including genetics, that play into an individual's health. But those who support the plan argue that the costs of obesity are making it difficult to maintain a good group health insurance plan for employees. Alabama now ranks as the second most obese state in the U.S., and the costs of obesity in health care are very high. Whether there will be legal ramifications to the implementation of the penalty remains to be seen, but for now state employers view this as a preventable problem that could save them millions a year.
As if Medicare Part D isn't confusing enough, now there's some evidence that the Centers for Medicare and Medicaid Services (CMS) hasn't been checking up on the private health insurance agencies who are supposed to be administering the plan. Medicare Part D is the prescription drug plan that was added to Medicare in 2006. It was designed to help older Americans pay for the rising costs of prescription medications, many of which are life-saving in nature, and can be highly expensive. According to the article at MSN Health, a report released just this week finds that CMS hasn't audited private health insurance companies to make sure that Medicare Part D is being implemented along federal guidelines. The result means the potential for tremendous amounts of fraud, taxpayer money lost, and perhaps millions of Americans who could be taken advantage of by less scrupulous insurance agencies. This is yet another reason why it's so important to have all of your part D paperwork in writing, signed and set aside in case you discover that you haven't been dealt with properly. CMS has argued that congressional caps on their spending has made it too expensive to monitor these insurance companies. But we have to ask: too expensive for whom?
The medical debt crisis has been growing year by year, burdening individuals as well as hospitals and employers. But just how much of America has been suffering due to medical debt became painfully clear this week, when a recent survey of working-age Americans found that 79 million are struggling to pay medical bills and deal with health insurance problems. As it's reported at U.S. News and World Report, a "perfect storm" of economic woes has led to difficulty finding affordable health insurance, paying premiums, and still covering costs when an accident or illness occurs. Thirty-nine percent of people with medical debt said they had depleted their savings to pay off those bills; 29% were having problems paying for food, heat, rent and other basics; and 30% had accumulated credit card debt in order to pay off health insurance costs. And the problem crosses boundaries of age and income, with lower and middle class Americans from working age all the way past 65 struggling with medical debt. One way to make sure your insurance is the best you can afford is to change plans if you're still healthy but don't feel secure in your coverage. The best means of finding a more affordable health insurance plan is to shop around aggressively, and understand exactly what kind of coverage you need before you sign on the dotted line. And as always, take extra good care of yourself. Making smart lifestyle decisions can help keep you from illness, and attending yearly checkups can provide you with the information you need to take optimal care of your health.
We hear a lot about how medical coverage prices have gone up in recent years, but now the Agency for Healthcare Research and Quality can definitively tell us that group health insurance premiums have gone up by more than 100% since 1996. Yes, you can forget about judging inflation vs rising costs vs lowered economic stability; it's a simple and depressing statistic proving that group health insurance rates have gone up way too far. According to the article at the TriState Observer, the AHRQ reports that employers paid for most of the increases. Their share of group health insurance premiums when from $3,679 to $8,491 a year for family coverage and from $1,650 to $3,330 a year for single coverage. Employees didn't get away scott-free, however. Their share went up significantly as well: from $1,275 to $2,890 a year for family coverage, and from $342 to $788 a year for single coverage. Whether it's group health insurance, family coverage, or individual insurance the best thing you can do to find more affordable coverage is to shop around aggressively, compare rates and plans, and know exactly what you need and can afford. And do your best not to be 100% frustrated with today's health care market.
We know from the news that many Americans are spending less at the pump, at the grocery store, and just about everywhere else to cope with rising debts and a poor economic outlook. But now, it also seems that many are skipping important appointments with doctors in order to save money on health insurance costs. According to a survey released by state insurance regulators, and addressed at the San Francisco Chronicle, nearly a quarter of Americans aren't seeing their doctor because health insurance costs are just too high. Another 11% of respondents reported using less of their prescription medications, or lowering their dosage to make the prescription last longer. Almost all Americans have been paying more for health insurance in the past several years due to the rising costs of both treatments and premiums. High deductibles and out-of-pocket costs too often keep the sick or injured from getting the care they need. The result? More emergency room visits, untreated and therefore more extensive disease, earlier mortality, and higher medical debt. Doctors recommend that everyone attend yearly checkups and follow-ups for treatment. These kinds of appointments keep sickness and injury at bay, and while they may cost you more in terms of your health insurance costs, they'll cost a whole lot less than a trip to the emergency room or long stay in the hospital.
There's good news regarding health insurance premiums this year...well, sorta. According to US Insurance News, the rate of increase in health insurance premiums is lower this year, slowing to about 8.5% for HMOs and 9.4% for PPOs. So prices are still going up, but not as fast as they have in the past - in 2002 health insurance premiums jumped 16%. Of course, this year's premiums are still going up faster than the rate of inflation, but the hope is that recent trends in everything from consumer choices (such as shopping around aggressively) to newer legislation are slowing the rise of premiums. The article suggests that the cost-growth in health insurance premiums that's occurred over the last 10 years is related to increasing demand, rising rates of chronic disease, and even a "recent surge in building new hospitals." There's no mention of skyrocketing prescription drug costs and a poorly organized health care system that loses millions a year. But at least consumers can see that their struggles to find more affordable health insurance plans, and their complaints to their state and federal representatives, are having a positive impact on the protection of their health and well-being.
He may be down, but he's certainly not out. The news this week reports that though California Governor Arnold Schwarzenegger's $14.9 billion dollar health coverage plan was shut-down by the Senate earlier this year, he still plans to take on the individual health insurance market. According to InsideBayArea.com, Schwarzenegger is nearing an agreement with Democratic legislators that would "reign-in" some of the costly practices associated with individual health insurance in California. This would include limiting insurer profits on individual health insurance plans, requiring plans to provide a basic set of benefits, and restricting the ability of insurers to cancel insurance retroactively when consumers get sick. And while this might not make it easy to offer coverage to all of the 5 million uninsured people in California, it certainly does a lot for the 3 million that rely on an individual health insurance plan to protect their health. Individual plans have traditionally been harder to get, costlier, and offer less coverage than employer plans. Hopefully, some of the struggle faced by citizens who try to protect their health and well-being through individual plans will be "terminated" (sorry) by their determined Governor.
With prices for basic necessities like gas, food, and mortgage payments growing year by year, the hunt for affordable health insurance is leading too many people to sacrifice good coverage for lower payments. According to MSNBC, there's a new trend that consumers need to keep an eye on: the purchase of an affordable health insurance policy that won't cover you when you need it. Sure, there are companies out there that are offering low-cost policies, but with high deductibles and minimal coverage, the consumer is taking on considerable risk should something happen to them or a loved one. As it says in the article, it's too easy for consumers to "focus on the low monthly price and not examine the cost and coverage of each health service" that's offered with an affordable health insurance plan. It's also good to steer clear of any policy that doesn't set a maximum amount that you'd be responsible for paying. These plans can stick you with a monumental bill in the event of a sickness or accident. Of course everyone deserves an affordable health insurance plan that won't create undue financial stress, but it's still very important for consumers to be aware of exactly what their insurance does and doesn't cover.
While the story at Columbus' BizJournals relays a lot of depressing statistics about the nationwide lack of affordable health insurance, there is, as it says, a glimmer of hope on the horizon. Sure, there are 47 million uninsured people in the U.S., even though we spend more per capita than any other country in the world. The cry for affordable health insurance has become so insistent in part because small businesses and middle class families can no longer afford coverage, and costs only seem to be getting higher. And then there's Medicare - with costs going up, and enrollment predicted to skyrocket in coming years, many are wondering how (or if) they will be covered when it's their turn. Supplement packages have been springing up here and there, but as is often the case, a supposedly affordable health insurance plan often comes with a high deductible, making it not so affordable when you need it. But, as the article says, there may be hope on the horizon. For the first time health care is a really big topic in upcoming elections, and with legislators of all levels pitching their affordable health insurance plans to the public, one thing is certain: they know the public is tired of the same, broken system. There are also other groups stepping in, like unions and even big corporations, to complain about coverage costs and health care problems. So, will anything come of it all? That will depend on how loudly everyone keeps complaining, who they vote for, and how significantly this issue continues to impact our economic futures. So far, we can only hope...
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