Are Agencies Cheating Us Out Of Good Medical Insurance Coverage?May, 2007
This week consumers were angered to hear that medical insurance coverage has been falsely oversold to Medicare recipients, costing the government far more than the traditional Medicare program. But sadly, this kind of thing happens all the time, and
individual health insurance is often oversold to anyone who is not aware of exactly what kind of coverage they need.
The problem lies with unscrupulous health insurance agents, who manipulate unwitting consumers of any age to purchase medical insurance coverage that covers too much, or just doesn't cover what they need.
But on the other hand, many health insurance agents and agencies are claiming that this isn't the case, that premiums have gone up based on growing costs for healthcare treatments, and the poor health of most Americans.
According to
commercialappeal.com, 30 cents out of every healthcare dollar is "wasted on care that patients don't need or to fix preventable mistakes made by doctors, patients and hospitals. Many people could afford and pay for health care if the cost of waste was not included in their premiums and the fees they pay."
These costs filter down to agencies, who must charge a higher rate for coverage that probably cost less last year, and even less the year before, and on and on.
So who's really to blame for inflated individual health insurance premiums?
The answer to that question is long and complicated, and will likely include pharmaceutical companies who overcharge for medications, doctors who prescribe such medications too often, consumers who don't take care of themselves and raise costs, and yes, even unscrupulous agents who take advantage of innocent people.
Facts on:
Individual Health Insurance
Did you know...
$.30 out of every healthcare dollar is "wasted on care that patients don't need..."?
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The best thing any consumer can do is to be very aware of exactly what their
medical insurance coverage plan covers, and what it doesn't cover. Know how much your deductible is, how much you'll pay out of pocket, and what it covers for prescription drugs. And if possible, opt for an insurance agency that allows you to design your own plan, the so-called "cafeteria" style insurance that does not make you pay for things you don't need.
There are a lot of culprits to blame when it comes to healthcare costs, but what we really ought to be focusing on right now is how to bring those costs down, and how to make affordable health insurance a reality for everyone.
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