In 2003 health care spending rose four times the rate the
inflation. The annual premium for an employer health plan
covering a family of four averaged nearly $10,000. The cost of
medical care continues to rise at the fastest rate in history.
Health insurance premiums will rise to an average of more than
$14,500 for family coverage in 2006.
Surveys reveal that the number one reason many people have no
coverage is because health insurance is too expensive. 23%
percent of people who do have health insurance have had to
drastically change their spending habits so that they could make
the insurance payments.
You've read about the rise in the number of bankruptcies. A
study shows that the average medical debt of those who filed for
bankruptcy is $12,000... And 50% of bankruptcy filings were
partly the result of medical expenses. Every minute two people
in the U.S. file for bankruptcy because of serious medical
problems.
Research shows that even when one member of a family is
uninsured and requires a hospital stay, or costly medical
treatment, the medical bills can effect the financial position
of the entire family as they try to help with costs. Government
officials agree that health care costs must be controlled, but
they continue to argue about how to do it. Some say it must be
done with price controls and by imposing strict budgets on
health care spending. Others cry for free market competition as
the solution to the high cost of medical care.
An important step in the right direction would have all of us
adopting healthy eating habits and lifestyles. We all would
require less medical care and those costs would drop.
For individuals and families is vital that you have at least
some form of health insurance policy. It may be sensible to keep
your health insurance cost as low as possible by having coverage
for only a catastrophic illness. The expense of most medical
treatment can be paid for over time. It is the unexpected major,
life threatening injuries and diseases that can wipe you out
financially.
One thing is certain. To protect your financial future you must
have at least some type of health insurance policy.
About the author:
Mark Walters presents an online guide to health insurance of
kinds at
http://www.HealthInsuranceMonster.com
