8 Sad Facts and Stats About Health Insurance
8 Sad Facts and Stats About Health Insurance Even under the Affordable Care Act (ACA), the cost of insurance has been on the rise in the past decade. And to make it worse, more and more people are still uninsured and underinsured. With the impact of Covid and people losing their jobs, these figures are more worrying than ever.
Just because the numbers are no cheerful does not mean we can ignore them. Here are 12 sad facts and stats about health insurance:
1. Nearly Twelve Million Have Lost Coverage Due to COVID
More than 6 million Americans have lost the employer-sponsored individual health insurance plans in Florida health insurance they would previously have through their work. And when taken into account of their spouses and children, the number of those affected climbs to more than 12 million. (Economic Policy Institute)One Million More People Uninsured in 2019 Than in 2018In 2018, there were 28.6 million people without health insurance in the United States. In 2019, there were another million without insurance, nearly 30 million.With the pandemic and many people losing their jobs, the market for uninsured individuals needing coverage is likely at an all-time high.
2. 73.7% of Uninsured Said the Cost Was Too High
Many uninsured people cite the high cost of insurance as the main reason they lack coverage. In 2019, 73.7% of uninsured adults said that they were uninsured because the cost of coverage was too high. Even 43% of People with Private Health Insurance Are Still Underinsured
Of the number of people who do have health insurance, almost half of them are underinsured. There is a massive opportunity for health insurance to grow if consumers are educated about their necessary coverage needs.As reported by Henry J Kaiser Family Foundation, 49% of Americans rely on employer health insurance. A further 19% are Medicaid insured, with 14% covered under Medicare. The report claims that 9% of Americans are uninsured. The overreliance on employer health insurance is worrying, especially since employment-based covers become defunct upon the termination of employment contracts.
3. What Is Preventive Care and Does My Health Insurance Cover the Cost?
Preventive services consist of healthcare services that include check-ups, patient counseling, and screenings to prevent illness, disease and other health-related problems.
Preventive care is important because it helps you stay healthy and access prompt treatment when necessary, and it can also help reduce your overall medical expenses. Many types of screenings and tests can catch a disease before it starts.
Thanks to the Affordable Care Act (ACA), a wide range of health preventive and screening services must be covered by health insurance plans – i.e. at no cost to the enrollee. There are different preventive coverage for adults, women, including pregnant women and children.
Age, conditions and annual limits do apply on preventive care for most insurance companies. For instance, you may only be able to receive full coverage for one well visit or particular screening per year. And in most cases, preventive care will only be fully covered if you go to an in-network provider. Remind your reader to check with their doctor and insurance company to make sure what preventive care they’re eligible for.
4. Annual Deductibles for Employer-Sponsored Health Insurance Has Been on the Rise Since 2010
The average annual deductibles for employer-sponsored health insurance is US$1644. It has been on the rise with an average rate of 4.31% per year since 2010. This means that the amount the employees must pay out of pocket before the insurance plan start to pay is increasing. Wages Fall Short of Premium Increase In the Past Ten YearsSince 2010, average family premiums have increased 55% (that’s 4.14% per year on average), at least twice as fast as wages (27%) and inflation (19%). The US Has the Highest Per-Capita Healthcare Cost
Compared to other developed countries, the US is the most expensive for healthcare. Many consumers know this. They aren’t always aware of individual plans and advantages that healthcare in the US can provide. It’s important for agents and companies to reach the public so that they can make the best decision for their health. Approximately 20% of Households (American) Have Defaulted Medical BillsAs reported by NBC News, almost 20% of Americans have negative credit reports due to delinquent medical bills. Poor credit scores greatly impact a patient’s ability to secure loans, make real-estate purchases, and participate in other economic activities.
5. Medical Bills Are the Leading Cause of Bankruptcy
Out of all bankruptcies, 62.1% are caused by high medical bills in the US. Unaffordable and skyrocketing health costs are the number one reason that folks declare bankruptcy. Having health insurance can cap, or at least offset many of these expenses.
Medical Bills Can Cost Your Home Medical bills contributed to half of the people losing their homes in the US. Enrolling in a health insurance plan can save individuals from losing their homes because of a medical emergency. Again, health insurance can provide you with a safety net. High Health Insurance Cost Has Delayed Retirement
Fears over not being able to afford health insurance or medical care are among the top reasons why Americans are delaying retirement. From 2000 to 2016, the number of Americans 65 and older working full-time or part-time rose by 6% to include almost 9 million people.
6. What Is International Health Insurance? And Who Should Buy It?
International health insurance provides coverage for individuals of families who spend most of their time outside their country of citizenship – expatriates, retirees, global employees or frequent travellers.
One of the most asked questions is, “can I just buy travel insurance with medical coverage?” The answer is no. It is because travel insurance usually only covers medical emergencies the happen overseas. And the coverage of international insurance can cover preventive care, pregnancy, cancer treatments, vision or dental.
Then you can add value to this post by indicating what the buyer should look at when considering such coverage. (e.g. annual visit limit, 24/7 international emergency support, network of doctors, second medical opinion, etc.)
7. Should I Get Dental Insurance? Is It Worth It?
You can get dental coverage in the Health Insurance Marketplace in two ways: as part of a health plan, or. by itself through a separate, stand-alone dental plan. You can first start with what’s covered and what’s not. Then people would love to see some plan and price comparison of the stand-alone plans available. To answer the question of whether dental insurance is worth it, you may need to illustrate with some examples for the cost of visiting a dentist versus buy a dental insurance plan.
8. Steps to Appeal a Health Insurance Claim Denial
It is not uncommon to have your health insurance claim denied. But it is not the final word. The good news is the Affordable Care Act gives policyholders the right to appeal denied health insurance claims if their insurer refuses to pay.
Write a guide to help your readers with steps like:
- Understand the reason for the denial
- Check your policy to determine id the denial was valid
- Ask your insurance agent to help
- Gather your medical records
- Submit an appeal to the insurance company
- Seek fo external review
- Consider other options (e.g. contacting the press or an attorney)
What’s Next?
Behind every Google search, there is search intent. If you want your business to be discovered by users on the web, you need to understand the search intent – and address the problem your prospective customers may have in the buyer’s journey of health insurance.
We hope this list will give you some solid ideas to kick start your next blog post. And if you want to rank long-term, make sure to give searchers what they want – with good quality content.
