In this time when money is so hard to find money, it is always better to invest in insurance plans. It gives us assistance whenever we will be hit by a sudden life threatening problems like illness or death of a loved one.
A problem now arising in America is the sharp increase in the cost of the health insurance. A research conducted Kasier Home Foundation showed that health insurance companies are charging annual family coverage premiums through an employer 9 percent higher than the previous year. It is even expected to increase this coming year 2012.
According to insurance companies, they are just keeping up with the process of medical services. Medical treatment costs are still not stable at present and it keeps on rising up so they had to go along with it to keep their business. Some analysts believe that they increased premium charges in the anticipation of the new federal health care law which is probable to take effect in 2012. This law would require them to justify any increase that they made that is beyond 10 percent. Analysts also believed that they are adjusting to the other laws like expanded prevention and diagnostic services which have already taken effect this year.
The insurers argued that the people’s expenses will rise as soon as the economy will fully recover so they don’t have to worry about the increase in the premiums. But the problem is that it hasn’t improved yet so does this mean that more and more Americans are no longer able to avail health insurances?
According to Robert Greenstein and economist and president of the Washington Based Center on Budget and Policy Priorities, many Americans are now uninsured. Since most Americans get their health insurance through their companies, it is a big factor that the unemployment rate is still high and yet not all companies provide health insurance benefits. Another problem is that more workforces comes from ages 18-24 years old which according to research is not usually covered by their employer’s health benefits program.
The sharp increase in the health care premiums has alarmed many Americans. This was one of their complaints when they joined the Occupy Wall Street protest. Even if employers claim that their employees don’t really consume medical services a lot in a year, still it is not a good excuse not to provide them with the health benefits that they are rightful to have.