At the state level, health insurance and health insurance companies are heavily regulated. Each state has a specific goal when it comes to controlling health care costs. Two of these goals are to control the escalating price of health care, and to make coverage more available to those individuals who are high risk health insurance candidates.
To research health insurance rates you can enter your ZIP code and start searching for state specific health insurance!
According to the U.S. Census Bureau, there are over 45 million U.S. citizens without health insurance. This equals about 16 percent of the U.S. population that cannot pay for a medical catastrophe if it were to happen to them.
What are the new health insurance regulations that are coming?
The federal government is set to have new national health insurance regulations by 2016. The new legislation is probably the most radical change to health insurance in U.S. history. There is much concern over the new legislation for families and the type of health insurance coverage that will be available. The health insurance regulations that are set to be in place over the next few years aim to improve the U.S. healthcare industry.
The new legislation will create a government run health plan which will be available to all U.S. citizens. Medical histories will not be an issue for those seeking out insurance, making it an appealing plan for those with preexisting conditions. Government health care will have the basic amenities, but will cost much less than private insurance.
There will also be a committee that tracks private insurance companies and makes sure they are following all federal standards of health care. This will ensure that private insurance companies give you the best insurance plan for your health and medical care.
This new legislation comes with much controversy. Much of the concern comes from private health insurance companies themselves.
The government claims its health care will be much more affordable than private health insurance giving customers more flexibility to purchase reasonably priced health coverage. Some say this could drive private health insurance companies out of business. Both possibilities are a matter of heated debate.
What are the potential tradeoffs of the new health insurance legislation?
The goal of this government legislation is to help everyone get health insurance, even those people who are high risk. However, there will be potential tradeoffs with this new type of legislation.
Some of the new rating rules will help those high risk and older individuals get low cost health insurance without exclusions. This will make health insurance affordable for them, but everyone else may have to deal with higher health insurance premiums.
There are both good and bad points to this government intervention with health insurance. There will always be those who are for it and those who are against it. Those who currently are unable to afford, or be eligible for, health insurance may find that they now qualify under the future legislation. However, this regulatory intervention may cause a shakeup in the entire health insurance industry.
What are some of the current regulations for health insurance?
According to the National Association of Health Underwriters, high risk pools are the guaranteed health insurance alternatives for those individuals who have a preexisting condition, such as cancer or HIV. These people cannot find health insurance in the private market.
While not every state offers high risk pools for those uninsured high risk people, most do. This insurance is private health insurance plans that are organized by individual states.
Most states have boards and administrators that are independent from the government, but there are those that have the high risk pools operate under some function of the state’s department of insurance.
Is the coverage from state-run high risk pools any good?
The coverage offered by state run health insurance plans are actually very similar to health insurance coverage offered by private health insurance companies. The plans usually include all major medical plans and coverage along with a range of options for deductibles.
The more popular high risk pools offer options such as PPO plans, indemnity coverage and some even offer HMO options. The high risk pools also cover maternity health insurance, mental health, medications, and help for those suffering from substance abuse. Another important option for those with preexisting conditions is disease management programs which most high risk pools offer.
To research health insurance quotes online you can search your current ZIP code and start comparing those rates side by side!