Health Insurance Cost

Health insurance in the United States these days is a cause of concern to many, who claim that it is rapidly approaching the "unaffordable" mark. It is certainly a product that has always been as important as employment, but too often overlooked as "something we'll get around to soon".

In the US, health insurance cost has risen apace with workers' wages; the problem arises with low-cost insurance, because as the old adage has it - you get what you pay for. Skimp on health cover and skimpy cover is what you'll receive. Benefits will be insufficient, while excesses and out-of-pocket minimums stay too high.

Health Insurance Cost

So from the outset we must face one fact: the worker might claim that he cannot afford health coverage, but the obverse side of the coin is - can he afford not to be insured? How expensive is it for a chap living within his means?

Even though health insurance cost increased during 2007 at a lesser rate than in 1990, workers' wages have risen at an even slower rate. The average annual cost for a man to insure his family's health is $3000. Health insurance costs are trending upwards, and a lot of fellows are asking whether they can meet the premiums being asked. Well, if they think a shade outside the square here, they might ask if they can afford to pay out-of-pocket $20,000 for a hip replacement or heart transplant.

Insurance companies are striving to hold premiums down, but it appears to a lot of workers to be a losing battle as they feel they cannot get the benefits they need at an affordable rate.

Four years ago deductibles on family plans ranged from $759 for an HMO to $3596 for indemnity policies. It is unfortunate for the employee of a small businessman who cannot afford to provide him with one. High health insurance cost with heavy excesses make it difficult for some Americans to cover themselves and their families, even though some insurance companies offer a high-deductible plan with a savings option.

Some companies try to help their employees by arranging low-cost plans, but the employees are often not satisfied.

The health insurance cost make it difficult to acquire the best health plan these days. Drug and alcohol abuse, junk food diets and smoking-related illnesses have filled the hospitals with some very expensive patients, so the hospital treatment costs on average are forced up everywhere, meaning the health coverage companies can either absorb those costs and go broke or pass them on to the consumer.


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