To meet the requirements of Individual Mandates, more and more Americans are planning to purchase coverage. And it’s a worrying trend. A huge portion of money is being diverted to health insurance, hurting the very essential needs like food and gasoline.
However, as one study shows, rising costs in health insurance shouldn’t be a life-long affliction. To some extent, health insurance premiums can be controlled through understanding and analyzing the main contributing factors.
1. Don’t rely so much on advanced medical technology.
The flooding of technological tools and gadgets in the medical field is one of the major factors that contribute to the rising health care premiums. It is logical to use certain lab tests and improve the quality of medical care, though OTHERS are not really important.
Naturally, insurance companies will claim that the cost of using new technology is high thus giving them justification for the increasing premium costs.
2. Minimize the use of prescription drugs.
One survey that was conducted of the entire nation concluded that about 70% of Americans fill in a prescription every year.
What many Americans do not realize is that prescription drugs are high-priced. Nonetheless, prescription drugs are being adopted widely. The generic equivalents are less costly, but they take too long to reach the market.
3. “Uneconomical” lifestyles.
Over 75% of medical expenditure in the US goes to treating chronic diseases. The health care system is experiencing too much burden from problems (obesity, heart disease) caused by unhealthy lifestyles.
A compiled report from U.S. Centers for Disease Control reported that in 2011, up to 30% of Americans were obese. Worse, it is expected that more than 50% of the population could be obese in the next 3 decades.
We have more tips to help drive down your family health care costs. Please give this article a quick comment/shart and then jump over to our reduce family care tips.
4. Unnecessary healthcare services and repeated tests.
It has been noted that the majority of medical beneficiaries always come back for a second or third medical test. Sadly, it often leads to over-diagnosis and uncalled for treatment. All these (repeated tests, unwarranted use of healthcare services in general) raise the cost of healthcare.
5. Cost Shifting.
Finally, most people find public healthcare programs to be unsuitable for use, mainly because they offer lower coverage. Most of them opt for private insurers, thus shifting health care costs to the private sector. That has prompted insurance companies to raise premiums significantly for individuals and employers.
While the rates of public health services are gradually falling down, private insurers are overflowing with cash.
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