The 2021 average annual cost of health insurance for Americans will fall by 1.59 percent

Annual cost of health insurance - medicine - money

According to a recent study, the average yearly premiums to be paid across the US will be $5,952. As Americans look to their 2021 coverage options, a recent ValuePenguin study shows that the average annual cost of health insurance will be falling. The amount individual households will pay will vary from one state and one home to the next. The study showed that Americans, on average across the country, will be paying nearly $500 per month for their plans. The annual cost of health insurance as a national average was…

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High health care costs still “catastrophic” to millions despite insurance coverage

High health care costs - hospital - money - calculator

High price tags for services and drugs remain a problem, despite widening ACA cover, says study. High health care costs can be detrimentally high for millions of Americans, even when they are already covered by insurance plans, says a new study. The price of medical necessities such as an insulin kit, for example, often make them cost-prohibitive. The study was recently published in JAMA and showed that even with insurance coverage, worries about high health care costs remain in place. Even as the Affordable Care Act (ACA) continues to gain…

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Americans with a health insurance plan have half the risk of bankruptcy, study

Health insurance plan - Man with empty pockets - bankruptcy

New data from the American Bankruptcy Institute shows uninsured people are twice as likely to file. Just as data is being released saying that while most Americans now have a health insurance plan, many remain underinsured, another study’s results have indicated that coverage is still making a difference. The American Bankruptcy Institute has shown that the uninsured have twice the likelihood of filing bankruptcy compared to those with coverage. The research showed that covered individuals whose policy was interrupted were twice as likely to go bankrupt. In fact, the data…

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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…

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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…

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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…

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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…

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