The key health insurance problems arising out of a global downturn may have been actually caused due to a number of factors concerning both the consumers and market leaders. A careful study of these problems will certainly help us identify their possible solutions. Some of the major health insurance problems are explained below-
High Prices
The cost of health insurance is way too high and it continues to rise amidst the global downturn. Policies that lack the necessary features to guard all major health care challenges are forcing different segments of the population to pick the wrong coverage. This in turn has caused sudden price hikes following an increase in avoidable claims.
The number of uninsured people
Millions of U.S. citizens are uninsured. Most of them are not able to afford the rising health insurance costs. Inconsistent decision-making on the part of the market leaders as well as the huge bulk of unethical claims have caused sudden price hikes to slacken the market growth. This has certainly affected the volume of sales for a majority of health policies and left a greater part of our population unattended.
Loss of coverage
US citizens are often scared of losing their health insurance coverage. One of the primary reasons for this problem is probably our frequent job cuts. The unforeseen price hikes have also led to a volume of coverage losses.
Pre-existing Conditions
People who bear any pre-existing health condition find it hard to get covered. The cost of insurance is too high considering the risk they pose towards insurers. Any attempt to mislead or hide facts concerning someone's health history can be detrimental. Such attempts may cause a policy holder to lose in terms of settlement benefits or may even cause problems during policy renewal.
Bad Services
Health care services have deteriorated substantially over the last decade irrespective of the advancement of medical sciences and technologies. Insurance carriers have often failed to live up to their promises, either due to lack of expertise or due to their inability to track core health care challenges.
There has to be a comprehensive plan to fix the above mentioned problems and establish a better health care system for one and all. This in turn will reduce the burden of health care expenses and ensure a steady growth of our health insurance industry.
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