(PRWEB) December 05, 2013
The media is all up in arms about the affordable healthcare act, reporting a 20% failure rate and another deadline missed. Although this is a major concern ,this is just smoke and mirrors to the bigger problem consumers will be facing when they go to utilize their plans. Many people believe that doctors will not take the new affordable healthcare plans, but this is not true. Doctors have bills and expenses just as any other American and will do what they have to do to be paid.
“SKIN IN THE GAME” is the problem, that may bankrupt many Americans in the future.
What is skin in the game you ask; it is the coinsurance a member will pay when utilizing many of the benefits covered by their new health care plan.This approach is designed to ensure members are contributing additional monies. The original thought is, if a procedure is really important to you, you will be willing to put some “skin in the game” to have it, if it is not as important to you, you may choose to wait or pick a different treatment options.
This may end up having an opposing affect, and the market will see people with HEALTH INSURANCE opting not to do procedures as it may cost them more than they are used to,be more than they have inn their family budgets, or they choose to have it and find themselves not able to pay it off in the long term. Healthcare bills are already one of the leading reasons people file bankruptcy in America, and it may only about to get worse.
However, co-insurance is not new. In fact, many insurance agents sell plans based on the amount of co-insurance a plan has. A plan with a 10% co insurance is typically more expensive than a 15% co insurance, but a plan with 30 and 40% co-insurance was one that not many people would purchase The basic affordable healthcare act plan, BRONZE, looks to have a 40% co-insurance, leaving a family exposed up to an additional $12,700 a year if they reach their utilization cap and meet the out-of-pocket max. 1-800-MEDIGAP is researching solutions to this major issue that affects many Americans.
Many insurance companies are already filling MEDICAL GAP INSURANCE (MEDIGAP) plans to start in 2014. These medical gap insurance plans (MEDIGAP) will be similar to the medicare supplement plans that retirees know as MEDIGAP plans. Our company is working with various components of the healthcare market to offer plans as a solution. These new medical gap plans will be designed to off-set the out-of-pocket exposure a plan member may be exposed to during the calendar year on their new plan.
Similar to their counter parts in the over 65 market, these plans may have increased benefits like:
Industry leader and founder of 1-800-MEDIGAP, Jeff Cine, states " the under 65 MEDIGAP enrollment process will start in early 2014, and we expect 60-80% adoption rate for plan members who are not used to the additional exposure they now heave on their new plans"
1-800-MEDIGAP is the nations toll free hotline for seniors looking for gap coverage for their medicare supplement plans, providing service and online tools 24 hours a day and live agent support 6 days a week. Visit 1-800-MEDIGAP.com for more information on medical gap insurance.