enhanced_deficit
11-18-2015, 01:38 PM
SWCcare was supposed to make things better according to neocons owners claims but opposite is happening.
Wed, Nov 18, 2015, 2:32pm EST
Why ‘affordable’ healthcare is leaving some families with sticker shock
Whether you purchase healthcare through an employer or via the federal marketplace, sticker prices can be deceiving. Annual premiums for employer-sponsored family health plans grew only 4% this year, on par with 3% growth in 2014, according to an analysis by the Kaiser Family Foundation. Likewise, the cost of an average 2016 benchmark silver plan on the federal healthcare marketplace remained relatively stable after factoring in tax credits, down 0.2% year over year, compared to a 1% increase in premiums in 2015.
And yet, Americans feel more squeezed by health care expenses than ever. The culprit? Higher costs in the form of deductibles, coinsurance and copayments.
“We’ve seen relatively modest premium growth but higher deductibles is the trade-off there,” says Matthew Rae, a senior policy analyst for at the Henry J. Kaiser Family Foundation. “If you’re an employer, there are only so many things you can do to reduce the cost of a plan. Many have chosen to increase cost sharing.”
The share of workers enrolled in plans with an annual deductible — the amount they must pay before the insurer starts picking up at least part of the tab — increased from 55% in 2006 to 81% in 2015, according to Kaiser. Over that same period, the average deductible more than tripled from $303 to $1,077.
Growth in deductibles has far outstripped the rise in premiums for people signing up for insurance through the federal marketplace, Healthcare.gov. In 2016, the average deductible for an individual enrolled in a benchmark silver plan rose 6%, from $2,927 to $3,117, according to HealthPocket, a healthcare research firm. The average deductible for a family increased 8%, from $6,010 to $6,480.
Stuck in the middle
Rising out-of-pocket expenses have proved challenging for middle-class workers who aren’t offered health plans through an employer and whose income is too high to qualify for tax subsidies.
When it came time to renew coverage for 2015, Helak says the same plan increased to $1,300 a month. It was more than they were willing to shell out, so the couple chose a lower-cost gold plan from United Healthcare. The plan cost a more manageable $766 a month but came with a $1,000 annual deductible. When he began the renewal process for 2016 coverage, he learned the same plan would now have a $899 monthly premium and a $2,000 deductible. “The total expense for my wife's and my healthcare, not including co-pay, co-insurance, etc. is 8% to 10% of our annual salary,” he says. “And since it is now government mandated, I would liken that to a pretty hefty tax for a small-business owner.”
Like Halek, Juliana was dropped from his private insurer because his existing plan didn’t meet ACA requirements. He signed up for a gold plan on the exchange, more than doubling his monthly premium costs, which went from $650 to $1,400 for a family of five. The family deductible was massive — $12,000 per year. (Federal marketplace plans have a mandatory out-of-pocket maximum of $13,200 for families and $6,600 for individuals.).
“It’s like a mortgage payment and I got nothing more in terms of coverage than I had before,” Juliana says. “I don’t see what’s affordable about the Affordable Care Act.”
http://finance.yahoo.com/news/affordable-obamacare-premium-costs-210458535.html
The Cost to Obtain Health Insurance Through Your Employer Is Soaring -- Here Are the Real Reasons Why
Your employer expects you to foot a greater portion of the bill for your health insurance, and we have the numbers to prove it!
https://g.foolcdn.com/editorial/images/185114/3537904106_57fe05b12b_z_large.jpg
Image source: Flickr user B Rosen.
My wallet hurts just thinking about healthcare costs. A new study from the Kaiser Family Foundation and the Health Research & Educational Trust provides evidence that the amount the average American has to pay out of their own pocket for employer-sponsored health insurance is rising even further at an exceptionally fast pace.
The average American is fighting a losing battle with healthcare costs
The 2015 Employer Health Benefits Survey (http://kff.org/report-section/ehbs-2015-summary-of-findings/) from the Kaiser Family Foundation/HRET interviewed nearly 3,200 non-federal public and private firms with three or more employees. The purpose of this annual study is to analyze the scope of employer-sponsored health benefits around the country. What it found should come as no shock if you obtain health insurance coverage through your employer, which is something that 48% of the nation does based on 2013 data from the Kaiser Family Foundation.
The primary finding is that over the past decade businesses are passing the costs of healthcare along to their employees at an increasing rate. Between 2005 and 2015 the average annual insurance premium for workers rose by 61% to $17,545 from $10,880. However, workers' contribution rose at an even faster clip, increasing 83% to an average of $4,955 per year from a decade prior.
http://www.fool.com/investing/general/2015/11/15/the-cost-to-obtain-health-insurance-through-your-e.aspx?source=eogyholnk0000001&utm_source=yahoo&utm_medium=feed&utm_campaign=article
Wed, Nov 18, 2015, 2:32pm EST
Why ‘affordable’ healthcare is leaving some families with sticker shock
Whether you purchase healthcare through an employer or via the federal marketplace, sticker prices can be deceiving. Annual premiums for employer-sponsored family health plans grew only 4% this year, on par with 3% growth in 2014, according to an analysis by the Kaiser Family Foundation. Likewise, the cost of an average 2016 benchmark silver plan on the federal healthcare marketplace remained relatively stable after factoring in tax credits, down 0.2% year over year, compared to a 1% increase in premiums in 2015.
And yet, Americans feel more squeezed by health care expenses than ever. The culprit? Higher costs in the form of deductibles, coinsurance and copayments.
“We’ve seen relatively modest premium growth but higher deductibles is the trade-off there,” says Matthew Rae, a senior policy analyst for at the Henry J. Kaiser Family Foundation. “If you’re an employer, there are only so many things you can do to reduce the cost of a plan. Many have chosen to increase cost sharing.”
The share of workers enrolled in plans with an annual deductible — the amount they must pay before the insurer starts picking up at least part of the tab — increased from 55% in 2006 to 81% in 2015, according to Kaiser. Over that same period, the average deductible more than tripled from $303 to $1,077.
Growth in deductibles has far outstripped the rise in premiums for people signing up for insurance through the federal marketplace, Healthcare.gov. In 2016, the average deductible for an individual enrolled in a benchmark silver plan rose 6%, from $2,927 to $3,117, according to HealthPocket, a healthcare research firm. The average deductible for a family increased 8%, from $6,010 to $6,480.
Stuck in the middle
Rising out-of-pocket expenses have proved challenging for middle-class workers who aren’t offered health plans through an employer and whose income is too high to qualify for tax subsidies.
When it came time to renew coverage for 2015, Helak says the same plan increased to $1,300 a month. It was more than they were willing to shell out, so the couple chose a lower-cost gold plan from United Healthcare. The plan cost a more manageable $766 a month but came with a $1,000 annual deductible. When he began the renewal process for 2016 coverage, he learned the same plan would now have a $899 monthly premium and a $2,000 deductible. “The total expense for my wife's and my healthcare, not including co-pay, co-insurance, etc. is 8% to 10% of our annual salary,” he says. “And since it is now government mandated, I would liken that to a pretty hefty tax for a small-business owner.”
Like Halek, Juliana was dropped from his private insurer because his existing plan didn’t meet ACA requirements. He signed up for a gold plan on the exchange, more than doubling his monthly premium costs, which went from $650 to $1,400 for a family of five. The family deductible was massive — $12,000 per year. (Federal marketplace plans have a mandatory out-of-pocket maximum of $13,200 for families and $6,600 for individuals.).
“It’s like a mortgage payment and I got nothing more in terms of coverage than I had before,” Juliana says. “I don’t see what’s affordable about the Affordable Care Act.”
http://finance.yahoo.com/news/affordable-obamacare-premium-costs-210458535.html
The Cost to Obtain Health Insurance Through Your Employer Is Soaring -- Here Are the Real Reasons Why
Your employer expects you to foot a greater portion of the bill for your health insurance, and we have the numbers to prove it!
https://g.foolcdn.com/editorial/images/185114/3537904106_57fe05b12b_z_large.jpg
Image source: Flickr user B Rosen.
My wallet hurts just thinking about healthcare costs. A new study from the Kaiser Family Foundation and the Health Research & Educational Trust provides evidence that the amount the average American has to pay out of their own pocket for employer-sponsored health insurance is rising even further at an exceptionally fast pace.
The average American is fighting a losing battle with healthcare costs
The 2015 Employer Health Benefits Survey (http://kff.org/report-section/ehbs-2015-summary-of-findings/) from the Kaiser Family Foundation/HRET interviewed nearly 3,200 non-federal public and private firms with three or more employees. The purpose of this annual study is to analyze the scope of employer-sponsored health benefits around the country. What it found should come as no shock if you obtain health insurance coverage through your employer, which is something that 48% of the nation does based on 2013 data from the Kaiser Family Foundation.
The primary finding is that over the past decade businesses are passing the costs of healthcare along to their employees at an increasing rate. Between 2005 and 2015 the average annual insurance premium for workers rose by 61% to $17,545 from $10,880. However, workers' contribution rose at an even faster clip, increasing 83% to an average of $4,955 per year from a decade prior.
http://www.fool.com/investing/general/2015/11/15/the-cost-to-obtain-health-insurance-through-your-e.aspx?source=eogyholnk0000001&utm_source=yahoo&utm_medium=feed&utm_campaign=article