Why Your Individual Health Insurance Policy May Be Too Expensive
Your quest to understand why your individual health insurance policy may be too expensive is admirable. Most people cannot afford expensive health insurance, which includes high premiums and rates. Many people must pay out of their pockets for their medical expenses because they cannot pay the high cost of health coverage. As a result, many of them run the risk of becoming bankrupt or in heavy debt if a major illness or accident occurs that jeopardizes their health. Accordingly, numerous causes account for why your individual insurance policy may be too expensive.
Several reasons for why your individual health insurance is expensive are medical lawsuits and administrative costs. Many doctors are afraid of being sued. As a result, they order many unimportant exams and procedures to prevent a medical malpractice lawsuit and to protect themselves. However, the more exams, treatments and procedures that your individual health insurance has to cover, it will require you to pay these additional expenses. Your individual health insurance expenses also pay for administrative costs, including paying the salaries of all staff members, such as clerical, executive and management personnel.
Other reasons that explain why your individual health insurance policy may be too expensive are gender, illness, and performance. Health insurance companies charge more money to their female customers than their male counterparts, due
to gender considerations. Most health insurance companies do not place coverage on preventing care that would protect people from major sicknesses and related problems, but they pay for expensive procedures, such as surgery and chemotherapy. Furthermore, most of the health insurance focuses on chronic diseases, many of which are caused by smoking, addiction, malnutrition, obesity and inactivity. More personal responsibility for preventing such chronic diseases would eliminate them, and decrease the expenses in health coverage. Most health insurance coverage pays for the work that doctors do, including office visits and official procedures. As a result, they may neglect how well they take care of their patients. Work performance is valued-not necessarily quality service.
Many reasons account for why your individual health insurance policy may be too expensive. Medical technology, which is ever evolving and beneficial, is very expensive. Inflation and economics also affect the high costs of health care. Health insurance companies often pass the gaps of un-reimbursed expenses to their private insurers, who often pay for costs with even larger insurance premiums. Health care insurers must also pay money to comply with government regulations, and reporting requirements. Many of the medical procedures are not really necessary. Moreover, health care fraud and abuse costs health insurers an astronomical amount of money per year. Last, the abuse of prescription drug costs also add to expensive health insurance.
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