Slowing Of Healthcare Spending Does Not Help Most Americans
By Coleen Elkins
If you noticing the cost of your health insurance increasing you are not alone. The reported slowing of healthcare cost spending is proving to not be related to the cost of health insurance. As American's are learning what their health insurance is going to cost for 2015 they are becoming more and more angry.
American's receiving employer based benefits are spending a larger portion of their paychecks paying for it. Family health insurance costs jumped a whopping 73 percent in a ten year span from 2003 to 2013. It is similar for individuals paying for their own health insurance. At the same time deductible have more than doubled. In fact they have increased over 300 percent in the last year.
The structure of health plans has also changed most no longer have fixed copays for doctors visit and prescription drug benefits.
At the same time cost is going up for the consumer it is also going up for the employer and the employer is shifting cost on to the employee. If an employer plan does not meet the criteria for affordability and minimum essential coverage under The Affordable Care Act the employee may be eligible for coverage through an exchange.
150 million Americans receive benefits from their employer. Only 7 million people have enrolled through exchanges as a result of the Affordable Care Act. That is a large contrast and somewhat dims the light of the Affordable Care and it's cost to administrate it.
If the cost continues to rise for Americans to have benefits people may find themselves in a quandary. Purchasing health insurance that doesn't actually help pay for out pocket expenses for chronic medical conditions and prescription drugs doesn't make sense to most people.