Kentucky Health Insurance
To start with, let’s clarify one thing: yes, health care costs are going up, but this is not because of the number of times you did or did not go to the doctor’s throughout the year. The premiums that Kentucky health insurance companies charge you are based on your health conditions, but they are also taking into account the number of claims they believe they will be paying for you in the upcoming year. The amount of money used for health care in a year is 1/5 of the economy.
Reasons why Kentucky Health Insurance rates are going up?
It is an unfortunate yet unavoidable fact that Kentucky health insurance rates are going up. So even though we are unable to stop it, let me help you understand why it is happening.
1. Modern medical technology is becoming more advanced and more costly, and people are happy with the results that the medical technology is bringing.
2. Most Americans fill a prescription drug in a year. On average, an American fills 12 prescription drugs a year. As you can see, a lot of money is spent on prescription medicines because of this.
3. People are not living healthy lifestyles. Many have unhealthy eating habits, lack appropriate exercise and a growing number of them, smoke. This unhealthy way of life leads to chronic diseases. The money spent on these diseases has increased to 75% of health care spending in a year.
4. People are having the same test done numerous times, or having tests done without knowing that they are accurate. This has increased the costs of health care.
5. According to the National Health Care Anti-Fraud Association, $68 billion a year is lost to fraud.
6. In order to comply with all the government laws, over $339 billion a year is spent on such things as filing and reporting.
7. 51% of the growth in health care prices are due to inflation. Simply put, we pay more every year for health insurance, because of inflation.
What is being done to control the costs?
1. Companies such as Anthem Blue Cross Blue Shield have developed programs so that their clients only go to the emergency room for actual emergencies. This way, the company is helping its customers avoid the high costs of MRIs and CT scans.
2. Anthem has also started programs to ensure that their clients are using generic drugs whenever possible to lower the costs of prescriptions.
3. Programs have been established to help people stay on top of their health and to take the best care of themselves possible. If someone has already been diagnosed with a health condition there are nurses to help him or her take care of themselves.
4. Insurance companies have begun to pay doctors based on the performance of their work, which will ensure more quality work in the future.
5. In order to prevent the enormous amount of fraud that has taken place with health care money, teams are now designated to look and recover the money lost in fraud.
6. Insurance companies themselves are trying to cut back on their expenses while making sure they can still give their customers quality service.
Lumenos HSA plans for Anthem’s KY clients are designed to give them more control over their health care costs. They offer preventive care benefits that help people focus on staying healthy.
Quality Service
Insurance companies in Kentucky know that their customers want quality care and to feel secure with the company they do business with. Know that there will be changes in Kentucky health insurance with health care reform, and that the changes will vary for each individual. In some cases, premiums will decrease, while for others, it will increase. Through all the change, Kentucky health insurance companies will do the best they can to keep your premium low and to offer you quality service.
