Facts on the Increasing Costs of Health Insurance
If you are fortunate, you can get health insurance through your employer but even if this is the case, you may not know what the actual cost of your health care is.
An example is you may buy prescription drugs at a drug store and pay under $100 dollars because your employer's health insurance will cover the rest of the cost.
As a worker you are separated from these costs but lots of people don't understand the cost of health insurance and why it has become a problem for the nation.
So what are changing the costs and why are they rising? The changing costs include things like increasing deductibles, rising co-payments and higher premiums.
A deductible is the money a person pays up front for health care before their insurance kicks in and these costs have been rising over the past years.
Co-payments are also growing higher as the cost of health care goes up.
The easiest way to explain a co-payment is that co-payments are payments that a person will pay each time they see a doctor.
Premiums are also getting higher.
A premium is how much a person is paying a month for health insurance.
One fact to why the costs are rising exists in human nature.
When we spend someone else's money such as the company who is providing the health insurance, we tend not to be as careful with it as if it were our own.
Because we don't pay with our own money most of the time, we are not responsible costumers but if we had to pay the whole medical bill we would probably take better care of ourselves.
Another fact for rising costs is technology.
The machines that hospitals and medical facilities are purchasing, such as robots, to replace simple surgical processes cost millions of dollars.
Other technologies and equipment advances cost more than the health insurance policies themselves.
A third fact for rising costs is an over-weight and aging population.
With much more of our population receiving health care than before it is only natural that costs are going up.
Hopefully all of these facts shed some light on the changing costs and why they are rising within health insurance companies.
An example is you may buy prescription drugs at a drug store and pay under $100 dollars because your employer's health insurance will cover the rest of the cost.
As a worker you are separated from these costs but lots of people don't understand the cost of health insurance and why it has become a problem for the nation.
So what are changing the costs and why are they rising? The changing costs include things like increasing deductibles, rising co-payments and higher premiums.
A deductible is the money a person pays up front for health care before their insurance kicks in and these costs have been rising over the past years.
Co-payments are also growing higher as the cost of health care goes up.
The easiest way to explain a co-payment is that co-payments are payments that a person will pay each time they see a doctor.
Premiums are also getting higher.
A premium is how much a person is paying a month for health insurance.
One fact to why the costs are rising exists in human nature.
When we spend someone else's money such as the company who is providing the health insurance, we tend not to be as careful with it as if it were our own.
Because we don't pay with our own money most of the time, we are not responsible costumers but if we had to pay the whole medical bill we would probably take better care of ourselves.
Another fact for rising costs is technology.
The machines that hospitals and medical facilities are purchasing, such as robots, to replace simple surgical processes cost millions of dollars.
Other technologies and equipment advances cost more than the health insurance policies themselves.
A third fact for rising costs is an over-weight and aging population.
With much more of our population receiving health care than before it is only natural that costs are going up.
Hopefully all of these facts shed some light on the changing costs and why they are rising within health insurance companies.
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