NUR 508 Grand Canyon Week 3 Discussion 1

Debate the various social factors associated with the situation of the “underinsured.” Respond to two other classmates’ answers with solid reasoning and support your opinions with appropriate reference citations.

ADDITIONAL INFO 

Various social factors associated with the situation of the “underinsured.

Introduction

High-deductible health plans are becoming more common, but they’re not a new concept. The term “high deductible” has been used to describe plans that require patients to pay a large share of health care costs before insurance kicks in; typically this ranges from $1,000 up to $10,000 or more. The percentage of people covered by these plans has risen steadily over the past decade—from 3% in 2007 to 13% today—and now accounts for almost one in four insured individuals nationwide.

The proportion of people with private coverage enrolled in high-deductible plans was 41.3%

The proportion of people with private coverage enrolled in high-deductible plans was 41.3%

The proportion of people with private coverage enrolled in high-deductible plans increased from 8% in 2007 to 41.3% in 2013

The percentage of underinsured adults who had most of their expenses covered by insurance dropped from 57.2% to 47.3%.

The percentage of underinsured adults who had most of their expenses covered by insurance dropped from 57.2% to 47.3%.

The number of uninsured Americans declined by 2 million people in 2019, according to Gallup’s annual Health and Healthcare poll. This represents just over 6% of the population, down from 14% at its highest point in 2013—and it’s the first time since 2001 that fewer than 20 percent of Americans are uninsured (16%).

Over 50 million people in the US were underinsured in 2012, according to the Commonwealth Fund’s Biennial Health Insurance Survey.

According to the Commonwealth Fund’s Biennial Health Insurance Survey, over 50 million people in the US were underinsured in 2012. This means that they did not have enough money for their medical bills and had to pay out of pocket or borrow money from family members or friends.

Underinsured people are more likely to forgo needed care because they cannot afford it and therefore do not get preventive services such as annual checkups and cancer screenings. They may also miss important symptoms that could be signs of serious illness or injury due to lack of access to timely diagnosis and treatment from a doctor or hospital emergency room (ER).

Due to financial constraints, underinsured individuals are also less likely than insured ones who can afford insurance coverage at least through some part of their lives but not everyone does this so this puts some at an even greater disadvantage because when something goes wrong with your health – whether it’s something minor like a cold that keeps coming back despite taking medicine every day….

High-deductible plans now account for almost one in every four insured individuals in the US.

A high-deductible plan is a type of health insurance that requires out-of-pocket expenses to be paid before the patient receives any benefits from the program. The term “high deductible plan” refers to plans with deductibles ranging from $1,000-$5,000 and often including an annual maximum limit on how much you can claim in a given year.

In 2016, 23 million Americans were underinsured (meaning they had at least one kind of high-deductible health care plan), according to a report by Medical Expenditure Panel Survey (MEPS). That’s almost one in every four insured individuals in America!

The main reason why people opt for this type of coverage is because they want peace of mind knowing they won’t get into financial trouble should something happen unexpectedly—but it comes at a cost: many don’t realize how much money they need up front until after their expenses have risen considerably due to unexpected medical bills being incurred during treatment later down line or even after death if someone gets sick or dies unexpectedly during treatment because their insurance company doesn’t cover all costs involved with receiving proper care throughout life events such as pregnancy loss which often require hospitalization.”

In 2007, 8% of workers received coverage through a high deductible plan; three years later this figure had risen to 14%.

In 2007, 8% of workers received coverage through a high deductible plan; three years later this figure had risen to 14%. In addition, although the number of people with high-deductible plans is growing, the majority still face out-of-pocket costs that exceed their annual deductible. For example:

• 54 percent of workers had average out-of-pocket costs exceeding $1,000 in 2016;

• The median amount paid for health care was $1,822 per year (in 2015 dollars).

High-deductible plans with more than $1,000 deductibles were linked with lower use of necessary health care, greater financial difficulties, and worse health status compared to comprehensive plans.

High-deductible plans were also linked with lower use of necessary health care, greater financial difficulties, and worse health status compared to comprehensive plans.

High-deductible plans have become increasingly popular among younger people as they seek high coverage at affordable prices. They are often paired with a health savings account (HSA) or flexible spending account (FSA), which allows people to set aside pretax dollars for medical expenses without paying taxes on them—a strategy that has been shown to help reduce out-of-pocket costs for those who use it. However, research suggests that this combination may not be ideal for everyone: The Affordable Care Act requires insurers in its marketplaces (where individuals buy their own insurance through exchanges) organized by state governments such as Medicaid managed care organizations (MCOs) and other private companies like WellPoint Inc., Aetna Inc., Cigna Corp., Humana Inc., UnitedHealth Group Inc., Blue Cross Blue Shield Association/Blue Cross Blue Shield Plans State Mutual Holding Company

Nearly two in five (37%) people covered by employer-sponsored insurance were considered underinsured in 2014, up from 34% in 2010 and 28% in 2003.

The proportion of people with private coverage enrolled in high-deductible plans was 41.3%, up from 38% in 2010 and 34% in 2003. In 2014, nearly two in five (37%) people covered by employer-sponsored insurance were considered underinsured, up from 34% in 2010 and 28% in 2003.

The percentage of underinsured adults who had most of their expenses covered by insurance dropped from 57.2% to 47.3%. This means that more than half (53%) had some portion of medical expenses not fully paid for by health insurance compared with 48% who had a similar situation at the beginning of this decade—a significant change over time

When inflation is factored into the equation, median deductibles rose 55 percent between 2003 and 2013, while total out-of-pocket spending increased 63 percent.

Inflation is a measure of the general rise in prices of goods and services in an economy over time. It is used to measure changes in purchasing power, as it accounts for both increases in nominal prices (the cost of something relative to its previous level) as well as changes in real (inflation adjusted) prices.

The Consumer Price Index measures how much consumers pay annually for various goods and services by comparing their current prices with those from one year earlier. The Department of Labor’s Bureau of Labor Statistics calculates this data every month using Bureau of Economic Analysis surveys that track “cost items such as food; shelter; clothing; education…and other items commonly purchased by households.”

Conclusion

The data confirms what many people in the health care industry already knew, that high deductibles are not the best way to protect patients from financial ruin. They also show that insurance companies may be getting better at covering their costs, but millions of Americans still face financial hardship when they need medical care or prescription drugs. The fact that some people are able to pay for their medication out of pocket does not mean that all of us can afford it or should be expected to pay out of pocket for our own medications.

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