HEALTH CARE – Is it affecting you?
Health insurance is one of the biggest economic and social problems in the US. Rising prices of health care programs and health insurance are affecting many Americans in the worst way possible. A lot of them don’t have enough money to pay for their medical bills so they have to sell their properties or change their life habits in order to pay for the medical care they needed. Here, you will see some of the biggest health care problems and some solutions for them.
Price of medications is more expensive than in any other country – Is change needed?
Prescription medications that patients need are 35%-55% more expensive than in any other country. People are also encouraged to ask for generic medications from their doctors. In order to change this, US Government needs to work more closely with drug companies in order to moderate the pricing of the drugs. Use this link to check pricing for prescriptions in your area: New Jersey Prescription Drug Price Registry
Consumer awareness – Do you have the appropriate health care plan for you?
There are a lot of people that are unsatisfied with their health insurance. The individual market has off the shelf plans. One size does not necessarily fit all, and the group plans offered by employers can’t keep everyone in the plan happy, because the carriers only offer 2 plans, 3 if the third is HSA compatible plan. Many employers are offering voluntary benefits to the employees through the convenience of payroll deduction. Benefits such as a hospital indemnity plan help cover deductible and co-insurance portion of hospital admission. Another would be to add an accident plan to cover sports related accidents to help with large individual and family deductibles. These benefits can help cover out of pocket expenses due to hospital admission, surgeon’s fees, and follow up doctor visits.
Can you Afford Rising Cost in health care premiums – double digits annually!
One of the solutions for rising cost in health care premiums is consumer directed high deductible health plans. These plans are custom designed to meet company objectives and the company culture. These plans start out with high deductibles and are supplemented with products offered on a voluntary basis. The high deductible plans are perfect for those who rarely go to the doctor, but want the catastrophic coverage if needed which is more affordable. The best possible scenario you can have is to get custom designed high deductible health plans filled in with voluntary benefits! This model will reduce the fixed cost of health insurance. This will also give your employees choices they want and add value to your benefit portfolio. There is a better way to buy benefits…
Everyone wants the best the health care with the lowest possible pricing.
When we talk about doctor services we have the opportunity to use specialist for many conditions. Many insurance plans encourage in network participation with lower out of pocket expenses. Other cost savings can be realized by using walk in medical facilities for smaller problems such as sore throat, Bronchitis, Allergies, Stuffy nose, Poison Ivy, Pink eye, Urinary tract infection, respiratory infection, and Sinus problems, instead of going to the emergency room. Additionally these non-emergency needs are available by means of telehealth medical consultations doctor services available to employers for employees that will help lower claims dollars for common ailment relief, and provide service for children away at school, or families on a vacation, and these telehealth services are encouraged by insurance companies. The insurance companies provide information on various treatment options so they will be informed of options available for their needs, which will help evaluate the use of inpatient or outpatient facilities.
These are just some of the problems and possible solutions in US health care system. A lot of things have to change in order for our HC system to be appropriate and affordable. Health care reform will reveal many new changes and challenges. If you need help with your group health insurance and employee benefits…
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