subject: The New Healthcare Realities and Options for American Consumers [print this page] The New Healthcare Realities and Options for American Consumers
There is no doubt that the healthcare scene in America has changed drastically over the last 10 years, and especially since 2010 with the signing of the healthcare reform bill by President Obama.
"There is no doubt providers, agents and consumers are all having to deal with major changes in the healthcare landscape because of healthcare reform," said Equal Health CEO, Brady Speers.
"We believe that consumers should know some truths about this new reality and learn about new solutions available to them," Chris Novinger, President of Equal Health, agreed. "It's an all new health insurance society here in America and the good old days are not coming back."
In a recent interview, both men shared some basically realities and some solutions those seeking affordable health insurance should consider.
Truths
* Mercedes Health Plans these are the "80/20" traditional plans most Americans are used to with low co-pays and a large range of strong benefits. Most receive them through their employer and some purchase Private health plans. These plans are harder to find than ever before and rates have gone out the roof. Gone are the days when your health plan would pay for nearly everything leaving you with little to cover out of pocket. Rates on these plans have gone up by nearly 40% and that is not going to change any time soon. In fact, many large carriers have dropped these plans completely in many states.
* Higher Premiums - this will be the name of the game for the next 4-5 years. Rates have already gone up by 20-40% and they will spike again in 2011. People will be paying more for less.
* Higher Deductibles gone are the days of $500 or $1000 deductibles. Today's most common deductible is $3000 or more with some going as high as $10,000 per year, per family member. This keeps rates down to a degree, but essential means you only have a catastrophic plan since it will pay for none of your more common annual expenses.
* High Co-pays doctor visits and prescription co-pays have gone up by 25-40% as well. Going to the doctor used to cost people $10, now $40 or more is the norm.
* More Out-of-pocket Costs we all must prepare to pay more for our healthcare needs in terms of doctor visits, drugs, lab work and even major medical events. Using a HAS or setting aside funds for such needs is vital regardless of the health plan you have.
* Fewer Agents and Less Assistance healthcare reform reduced agent commissions by 70% or more which means most agents are getting out of the business leaving consumers fending for themselves.
* More Will Depend on Government Care with rates being so high, more people will be forced to turn to state funded high risk pools or their local county hospitals for care.
Bottom Line Realities:
A government run health system is not one you should want. Case in point is the healthcare system currently in place for our military vets the VA. Just a little research online and you will find the horror stories associated with government run systems here in America and around the world. Private healthcare will always be better.
You will be paying more for less coverage (if you are not already) and you will be paying more out of pocket. Traditional plans are charging more and reducing benefit amounts at the same time. Co-payments have increased and fringe benefits such as dental have been removed. The "good old days" of Mercedes health plans are gone and not coming back.
Most Americans will not be able to afford the coverage they are used to and will have to build custom plans with the assistance of an agency or agent they trust. The fact is custom built coverage can be very strong and much more affordable. Custom plans may include hospital/surgical policies, critical illness policies, accident coverage, medical savings benefits and limited benefit policies.
Fewer businesses will offer strong health plans as group policies become too expensive and alternative health plans take their place.
Things will not return to yesteryear. Reform is here and things are likely to remain chaotic and confusing for the next 4-5 years if not longer. This is our new healthcare reality and we all need to work to make it effective and affordable. And that's where Equal Health can help!
Today's Solutions
There are affordable solutions in the market place today. Insurance companies are working with agencies like Equal Health to create solutions people can depend on and new options are coming out on a regular basis. Being creative, educated, and patient and having an understanding that you will have to pay for more than you had to in the past is the secret to protecting your family. For more about Equal Health visit their website at www.equalhealth.com
