The state of California has recently just hit a historic low for the amount of people uninsured. 7.4 percent of its population has been announced to be uninsured, which is impressingly much less than the 17.2 percent in 2013. However, 2.9 million people are still without insurance, making them vulnerable to all sorts of complications in the long-run. Most people claim the high costs of health insurance being the reason for their lack of coverage.
This is understandable since the passing of the Affordable Care Act (ACA) drastically increased how much premiums rose each year. As a matter of fact, 29 percent of the people who report going uninsured cite it as the main reason for the lack of protection. Despite this in mind, health insurance is still a vital component in living in the modern-era. After all, living in California products and services are going to be more expensive than in general; medical treatment is no different.
California is no different than the rest of the nation in the fact heart disease is the main killer. Depending on what county you live, you can pay more or less than your neighbors. For example, in the Inland Empire—which consists of cities like San Bernardino and Riverside—the recovery from a heart attack will cost you a low end estimation of 19,000 dollars; a high end estimate is 82,600.
Over half of the people who are uninsured make less than 50,000, which makes paying off these bills impossible. Conversely, the aid of health insurance will result in only paying 532 dollars for heart attack rehabilitation. Your health insurance will be able to pay off the thousands of dollars the treatment incurred, all because you paid them a monthly and annual fee.
With the national average for a monthly premium on a bronze health insurance package being 388 dollars, you’ll pay the least amount compared to the other packages. Silver, gold and platinum will be your other choices of “metals”, each with their own differences. These “metals” determine how much you’ll end up paying in monthly premiums and out-of-pocket. While a platinum plan comes in at a costly 583 dollars a month, you’ll pay significantly less out-of-pocket.
Typically, those who have a more frequent medical need will pick a gold or platinum plan since you’ll pay the least out-of-pocket. Granted, you will pay more in monthly premiums, but in the end you can be saving thousands. Of course, the type of service you choose has an influence on your bill. Picking an EPO or HMO plan will cover your service as long as it’s part of your network, or an emergency. However, HMOs require you to live in a certain location or work there.
PPOs and a POS plan are the other options, but they don’t fully cover you. Even if you did see a facility in their contract you’ll have to pay, but at a reduced cost. PPOs will let you see outside services and specialists, though, but an additional cost. A POS will require you a referral from your doctor to see a specialist. These attributes don’t just determine how much you pay for their subscription, but also how you get treatment. Nonetheless, the aid of health insurance will severely improve your life. Unfortunately, ACA has had a major effect in how we deal with health insurances.
The ACA bill had a variety of implications on our society. Despite the fact there is now a cap on how much you can spend out-of-pocket, it also quickened the way rates increase. Placing a maximum amount of 7,350 dollars for individuals and 14,700 for families, it created a justification for millions of people to acquire the service. However, this benefit also drove up the prices for people.
Before the passing of ACA, premiums for families were fluctuating—up and down—at 9.2 percent per year. The first four years after ACA, families and households of all types saw an increase in their premiums between 52 percent and 63 percent. This is what led to the high monthly premiums we have today. It’s why an average bronze monthly premium is set at 388 dollars, instead of the 140 dollars people were familiar with.
HMOs did see a decrease in premiums during the first four years of ACA reform, but saw a steep 46 percent increase during the first four years under ACA. A POS plan was actually decreasing by 14.9 percent per year, then started to rise to an incredible 66 percent after ACA took effect. PPOs were no different with their giant 66 percent increase in premiums. The only service not affected was the rare EPO. Fortunately, there are health insurance companies who want to make sure people don’t have to deal with the tribulations ACA created.
With many health insurance packages being unnecessarily high it can be frustrating to find the perfect plan for you. You look through one and see it has great benefits, but it results in you paying 700 dollars a month. Thankfully, health insurance companies, like Insurance Line One, provide services starting as low as 150 dollars. Even people who make 100 percent less than the poverty line will be able to afford these plans.
Offering open enrollment all year, you’ll never be denied coverage because you didn’t know there was a deadline for this package. Suggesting you a list of options you’ll be able to find the perfect service for you. Dental, health, life, vision and vehicle are just some of the insurance plans they offer. To be uninsured in an age where to survive is pertinent on your finances, it would be unwise to risk it. After all, recovery is tough enough, you don’t need to include financial stress.
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