The costs of health care are on the rise, putting heavy financial strain on insurance companies which, in turn, translates into higher premiums for consumers. While arguments regarding the cause of rising health care rates abound, the real reason for the phenomenon may be something that is impossible to control. The so-called baby boomers generation is steadily aging, with many reaching the twilight years of life. With age comes a sleuth of new medical concerns ranging from cancer to dementia. While older generations have been dealing with such troubles for…
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Researchers find that U.S. insurers pay more for medical care than their counterparts in Canada
Health insurance rates are rising throughout the nation. Insurers are quick to justify these rate increases with the soaring costs of medical care and administration. While the nations insurance regulators are leery of these justifications, researchers at both Cornell University and the University of Toronto say that insurers claims may be accurate. According to a report released from the universities, health insurance administrative costs are almost four times higher in the U.S. than they are in Canada. The report finds that Doctors in the U.S. spend excessive amounts of money…
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