3 Ways Health Insurance Companies are Bankrupting America

Regardless of your feelings on the health insurance debate, reform is definitely needed. While we constantly examine the costs of healthcare on domestic spending, there are numerous ways health insurance companies could reform themselves to better serve Americans and reduce long-term costs. Through their practices, health insurance companies are slowly bankrupting America.

1) Treatments
Whether it is a routine doctor’s visit or cancer therapy, treatment is what makes health insurance companies money. This leads to doctors, pharmaceutical companies and device makers to over bill and over treat patients. Even for a physical, doctors have you come in so they can schedule lab work for a future visit. Meanwhile surgeons, especially orthopedic surgeons, will operate on patients that could get the same results from physical therapy. Treatments make huge profits for everyone but the patient and when insurance companies find a loophole so they don’t have to pay, the patient is left holding the bag. No wonder so many
people declare bankruptcy over medical bills.

2) Pre-Existing Conditions
This dreaded phrase makes it impossible for millions of Americans to obtain health insurance. By being uninsured, they end up costing tax payers way more through hospital room visits and delayed treatments that lead to more severe health problems. Sometimes patients will get insured but their pre-existing conditions are excluded.

3) High Deductibles
Many people can only afford health insurance if they take a plan with high deductibles. These deductibles can be unaffordable for average Americans and often prevent insurance companies from having to payout medical claims. If you are healthy enough to be insured than most likely you will spend very little on health care costing the insurance companies nothing while they take your money.

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The information supplied in this article is not to be considered as medical advice and is for educational purposes only.