Group Health Insurance
In today’s society, health insurance is a concern for most families. Many companies offer group health benefits to their employees. However, the struggling economy and growing unemployment rate makes it even more challenging to maintain group health benefits.
As the cost of health insurance continues to rise, smaller companies are quickly losing the ability to afford to offer their employees group health insurance benefits. Because of this, fewer companies are able to offer insurance at all, or are forced to charge their employees more to maintain coverage. Fewer employees of companies that do offer group health insurance plans are able to keep up with the rising costs, and are electing to remain uninsured. This leaves them responsible for all of their health care bills if they become ill.
The number of uninsured families and individuals has reached epidemic proportions. In 2007, the United States Census Bureau stated that eighteen percent of the population under the age of sixty five – roughly forty-six million Americans – did not have health insurance. A 2007 survey conducted by the Agency for Healthcare Research and Quality estimated an even higher percentage – nearly twenty-seven percent. These numbers are catastrophic, considering that so many Americans are avoiding treatment for potentially serious conditions, and are putting themselves at risk of accumulating thousands of dollars in medical bills if they become seriously ill.
The numbers do not seem to be getting any better. Studies revealed that as many as seven million more Americans could lose their health insurance benefits by 2010, due to job loss and the recession. According to studies done by the Urban Institute, these numbers could reach sixty-six million by 2019 if this trend continues.
With the rising cost of health insurance, many may think that since they are healthy, health insurance is something they can afford to do without. They count on their florida health insurance coverage for medical expenses related to a car accident. However, the risks involved with not carrying health insurance are significant. Americans who do not have health insurance typically do not receive routine check-ups or preventative care. This leads to later diagnosis for serious diseases. Many serious illnesses, such as cancer, can be better and more successfully treated if they are diagnosed early, making early detection essential to survival. In fact, cancer patients with no health insurance are 1.6 times more likely to die within five years of being diagnosed than those with health insurance. Not only are the uninsured diagnosed later, they are left without the means to get the treatments, surgeries, and therapies needed to ensure recovery. Some perish, leaving their families with funeral expenses and thousands in medical bills.
The financial risk of not carrying health insurance also needs to be considered. Many Americans who are uninsured believe that they and their families are healthy. However, serious illnesses and injuries can occur suddenly and unexpectedly. The costs of surgeries, hospital stays, and medical testing are constantly on the rise, leaving uninsured Americans few options other than going untreated or accruing thousands of dollars in medical debt. Furthermore, the uninsured are often expected to pay for health care services up front, and risk being turned away in non-emergency situations. It is important to keep in mind that uninsured individuals will often have difficulty finding coverage, and will most often end up paying a much larger premium once they have been diagnosed with a serious condition.
