Nearly 9 out of 10 US consumers blame surprise healthcare costs on insurance companies

Surprise health costs - American Money

Recent survey results show 86 percent of consumers blame their insurers for unexpected bills. Most insurance beneficiaries place the blame of surprise healthcare costs directly on their insurance companies. This, according to the findings in a newly published consumer survey. The report suggested that health insurance companies need to boost their education and communication. As 86 percent of consumers feel that surprise healthcare costs are their insurance company’s fault, there survey results show a disconnect between policyholders and their insurers. The survey was conducted by NORC at the University of…

Read More

Royal baby boy delivery expenses lower than those of average US woman

Royal Baby Boy - Image of Newborn - Health Insurance

Prince William and Kate Middleton’s healthy son was born in the Lindo Wing of St. Mary’s Hospital. The Duke and Duchess of Cambridge, Prince William and Kate Middleton announced the birth of the youngest royal baby boy. The newborn was delivered in the Lindo Wing of St. Mary’s Hospital just like his brother George and sister Charlotte. Despite the baby’s royal status, his birth likely cost less than what is charged to the average mom in the U.S. The cost of 24 hours in a deluxe room for a non-cesarean…

Read More

Health insurance expenses bring stress to uninsured American adults

Mental health insurance claims - young woman stressed

A new report shows uninsured people are hesitant to purchase a policy due to anticipated rising costs. Approximately 71 percent of uninsured American adults who were aware of the open enrollment period chose not to purchase a plan due to expected increasing health insurance expenses. They risk failure to comply with the Affordable Care Act to sidestep rising costs. This represents a potential shift in the level of confidence that the ACA will stay in effect. The research was conducted by the Commonwealth Fund. The results were published in a…

Read More

Penalties for those without health insurance are on the rise

health insurance penalty

Federal fines will be placing more pressure on uninsured consumers next year Health insurance premiums for those seeking coverage through exchanges in the United States are growing next year. For many consumers, higher costs may discourage them from actually keeping their coverage due to financial pressure. If they go without coverage, however, they will face penalties from the federal government. Next year, those penalties will be more costly, as they are designed to serve as an incentive to encourage consumers to purchase health insurance coverage. Report shows that the average…

Read More

Health insurance and medication is growing more expensive in the US

health insurance drug medical

Health care costs saw significant growth in 2014 Health care costs saw significant growth in 2014, according to the Centers for Medicare and Medicaid Services. The federal agency has noted that health care expenditures are accelerating, with consumers and businesses spending a great deal of money on insurance coverage. As costs continue to grow, consumers are beginning to feel significant financial pressure. Finding a way to reduce health insurance costs is beginning to become a priority for the country, but an effective solution has yet to be found. Centers for…

Read More

Insurance costs are driven skyward by some ailments more than others

health insurance costs subsidies

New research has revealed the catastrophic ailments are the most expensive for insurers to cover. The results from a recent study that looked into health insurance costs has now revealed the 10 types of catastrophic ailments that are the priciest for insurers to have to cover as a part of their plans. Among the leading types of condition is going into labor early and having a preterm baby. Preterm births occur about 450,000 times every year and have been found to be among the highest insurance costs, says the new…

Read More

Young consumers remain confused about health insurance

health insurance for young adults

Study finds that young adults are still confused about insurance terminology Many young consumers are concerned about the cost of health insurance policies, but they are still confused about out-of-pocket expenses, according to a study from the Children’s Hospital of Philadelphia. The study is quite small, with researchers observing 33 young adults between the ages of 19 and 30 as they purchased insurance coverage through HealthCare.gov. The online marketplace has made it easier for consumers to acquire coverage, but they may not have a full understanding of insurance terminology. Consumers…

Read More