Search results
Results from the WOW.Com Content Network
Community rating, as a basis for premium calculation, is fundamentally different from the usual method of determining insurance premiums, i.e. risk rating. In a risk rated insurance market, an insurer calculates the premium payable by a potential policy holder in order to enter into an insurance contract on the basis of various factors particular to that individual, such as the risk of a claim ...
In 2004, private insurance paid for 36% of personal health expenditures, private out-of-pocket 15%, federal government 34%, state and local governments 11%, and other private funds 4%. [67] Due to "a dishonest and inefficient system" that sometimes inflates bills to ten times the actual cost, even insured patients can be billed more than the ...
According to the United States Census Bureau, some 60% of Americans are covered through an employer, while about 9% purchase health insurance directly. [66] Private insurance was billed for 12.2 million inpatient hospital stays in 2011, incurring approximately 29% ($112.5 billion) of the total aggregate inpatient hospital costs in the United ...
The catch-22 associated with health insurance — even with subsidies — is that the low-cost plans that most people can afford come with outrageously high deductibles, leaving the policyholder ...
The rate of increase in both health insurance premiums and out-of-pocket costs have declined in the employer-based market. For example, premiums increased at an annual rate of 5.6% from 2000-2010, but 3.1% from 2010-2016. An estimated 155 million persons under the age 65 were covered under health insurance plans provided by their employers in 2016.
Health insurance costs are a major factor in access to health coverage in the United States. The rising cost of health insurance leads more consumers to go without coverage [1] and increase in insurance cost and accompanying rise in the cost of health care expenses has led health insurers to provide more policies with higher deductibles and other limitations that require the consumer to pay a ...
Nyman, John A. “The Economics of Moral Hazard Revisited,” Journal of Health Economics vol. 18, no. 6, December 1999, pp. 811-824. Nyman, John A. “The Theory of the Demand for Health Insurance.” University of Minnesota, Department of Economics Discussion Paper #311, March 2001. Nyman, John A. The Theory of Demand for Health Insurance.
A study examining the effects of health insurance cost-sharing more generally found that chronically ill patients with higher co-payments sought less care for both minor and serious symptoms while no effect on self-reported health status was observed. The authors concluded that the effect of cost sharing should be carefully monitored. [29]