Health Insurance Affordability Issues

According to a September 2009 Gallup Poll, only 61 percent of Americans are happy with the costs of their health insurance plans, and a Centers for Disease Control and Prevention survey says that 15 percent of Americans are without health insurance coverage. The people Gallup polled said that the rising cost of health care is the biggest health care problem in America, suggesting that affordability is the biggest determining factor for the number of Americans without access to adequate care.

Premiums

• According the healthreform.gov, health insurance premiums consistently rise each year and have doubled between 2000 and 2010. Additionally, premiums for individually insured people and families are a much greater cost burden on average than for individuals and families with employer-based health insurance plans. Healthreform.gov also notes that while employer plans typically require policyholders to pay approximately eight percent of their yearly income to health care expenses, individual policyholders dole out between 20 percent and 50 percent of household income to health care expenses.

Low Income

• Low-income individuals and families usually struggle to afford health insurance in the private market. Some may have access to employer benefits, but for those who do not, an individual plan is likely out of reach. The federal government offers health insurance in the form of Medicaid to qualifying individuals and families with incomes below or just over the federal poverty limits.

The Affordable Care Act

• When Congress and President Obama established The Affordable Care Act in 2010, the primary goal was to make insurance more affordable and to extend health insurance to every American. The law provides tax credits to small businesses that offer health insurance options, and in 2014, the government will begin providing taxpayers with tax credits to purchase health insurance. Additionally, by limiting abusive practices and wasteful spending inside health insurance companies, health insurance premium prices will fall.

Alternatives

• Anyone who does not qualify for health insurance through an employer and who does not qualify for Medicaid can get limited health care coverage without high expenses. Several insurance companies offer hospital-only catastrophe plans that cover unforeseen hospital expenses. If you have children, you can obtain free routine immunizations through providers participating in the Vaccinations for Children program. Additionally, some hospitals offer significant discounts and payment plans to patients without health insurance coverage. If you already have health insurance but need to lower your costs, opt out of plan additions such as dental, vision and maternity benefits.