Does Single Payer Control Healthcare Costs?
October 9, 2017
Why is Revenue Cycle Management important in the healthcare industry?
November 17, 2017
Health insurance is one of the most bought insurances. In fact, research shows people prefer to buy out a medical insurance plan for their family members so that in times of adverse health situations, they do not have to pay everything out of their own pockets. Insurances are meant to lessen the burden of a one-time medical cost or procedure that otherwise would normally have to be incurred by the insurer.
The government has been subsidizing the premiums that were to be paid by the insurers, and this made insurance one of the best and most feasible options for people to opt for. There was an Affordable Care Act that was introduced by the Obama government.
The recent change in the government policies and the whole stance that the government has, radically put a genuine concern in the hearts of the insurers and the insurance companies. They are not sure if the government is going to continue to subsidize the health insurances or not. The recent statements from the government have made the insurance companies uncertain, and therefore there has been a drastic increase in the premiums that are to be paid by the insurers.
There is also a talk going around Washington, that since Obama care was the brainchild of the previous government, the current administration is hardly interested in continuing the program. This is the reason the insurance companies are getting skeptic. A spokesperson for Trump has emphasized that the reason they are not interested in investing further in the Obama care program is that it has quite a lot of loopholes. They plan to come up with something much bigger and better for the general masses.
The delay in any proper stance from the government and lack of a plan of action has forced the insurance companies to shift the premium burden on the insurers. This amount was earlier being subsidized by the government. Many insurance companies have assured their subscribers that once the government’s standing about the subsidy becomes apparent, there will be adjustments in the premiums that they have to pay.
The outlook that is being presented by many lobbies from the Trump administration is in favor of the hospitals, doctors and majorly the patients paying the bills. According to these lobbies, it is not the responsibility of Washington to bear these costs. Some lobbies from the Trump party, on the other hand, are of the opinion, that since the insurers have to submit their rates there should be at least an arbitrary temporary regulation that agrees to subsidize the health insurance like the previous government. This way the uncertainty will be reduced, and insurers will be more at ease, and feel more relaxed.
Hiking up the premium has reduced the insurers by a huge margin, as many people with limited incomes and looming expenses are unable to accommodate the increased premium costs. This will decrease the quality of health service provisions as the number of people opting for proper medical facilities will be reduced. The overall impact that the price hike will have on the health care situation is quite bleak. In fact, it seems that the health quality of the nation would face some very adverse consequences.
