It is difficult to make any progress in life when you continually are blindsided by unexpected heath care expenses. For this reason, a growing number of Americans are taking advantage of the latest regulations and offerings put in place with the Affordable Care Act to make sure that they have their own health insurance. By contributing a monthly fee, more and more families are able to manage their health care expenses with the use of insurance.
And while there are many Americans who are getting their health insurance from their employers, there are many Americans who need to find affordable access to health insurance so that they can protect themselves from unexpected health care expenses. Choosing a health plan that works best for you, however, is a process that requires research. Making sure that you ask the necessary questions about deductible levels and copay amounts, for instance, can help you be even more prepared for the health care costs that you may still encounter. Consider some fo these facts and figures about the insurance industry and the impact that it has on the nation’s economy:
- 40% of Americans under the age of 65 have employer-based healthcare coverage, according to a Gallup study conducted in January of 2015.
- With examples of diabetes and heart disease, the U.S. has the highest rates of chronic health conditions. In fact, 87% of older Americans report at least one chronic illness, and 68% reported two or more, according to The Commonwealth Fund report from the year 2014.
- 21% of Americans said they had out-of-pocket medical expenses of $2,000 or more in the past year, according to the same Commonwealth Fund report.
- More than 66% of all health care costs in American today are for treating chronic illnesses. As an example, 95% of health care costs for older Americans are for chronic diseases, according to statistics provided by The State of Aging and Health in America in2013)
- Insurance coverage rates have continued to increase in the last three decades. In fact, while there were as many as 50% of Americans over 65 had no health insurance in the year 1962, the latest data shows that by the year 2015 only 2% of Americans over 65 lacked coverage, according to The Commonwealth Fund report in the year 2015.
Choosing a medical insurance provider is the answer to making sure that you are never caught without the care that you need for either yourself or your family.