Latest Trends in Health Insurance

Latest Trends in Health Insurance

Most Americans are beneficiaries of healthcare coverage in multiple ways which include private insurance coverage arranged by their employers, coverage purchased on their own and public insurance programs such as Medicare and Medicaid. It is believed that about 160 million Americans enjoy employer-sponsored health insurance, and another 13 million have bought insurance directly from an insurer or HMO. Total spending for health care services continues to steeply rise – from .4 trillion in 2001 to an estimated figure of .1 trillion in 2012.

Insurance premium for people with private insurance have risen drastically in recent years. At the same time, consumers are also suffering because their out-of-pocket costs for deductibles and other cost sharing have gone up significantly over the same period.

While coverage availability has somewhat declined for those having employer coverage, a lackluster economy and high unemployment rate have intensified problems faced by those seeking individual coverage. The economists have to find ways to control increases in health care costs and to provide coverage for the uninsured.

Paying contributions, however small, towards health insurance policies discourage workers from joining the insurance scheme. Statistics reveal that about 20 percent of all uninsured people live in families where a worker has declined employer-sponsored insurance coverage. The refusal to avail employer-sponsored