5 Health Insurance Trends to Keep In Mind
If you have not yet gotten health insurance, now is the time to get it. Thanks to President Obama’s Affordable Care Act, it is now mandatory that all Americans have health insurance and easier than ever to get it. It is also more readily available with lower costs than ever before. However, when you are selecting a plan, it is important to know about certain health insurance trends so that you can ensure that you are choosing the right one.
- There are tax penalties for each uninsured adult as a result of the Affordable Care Act. This means that if you are not insured by now, you will be required to pay a penalty of $95 or one percent of your total household income above the $10,000 mark.
- If you get health insurance through your place of employment, the cost of the coverage is increasing. A research firm recently predicted that the cost of healthcare for employees in the workplace will increase by 5.5 percent in 2015.
- Employers are opting for consumer driven health plans, which means that the plans have a higher deductible. Now, 48 percent of large employers offer this type of insurance plan to their employees compared to only 39 percent in 2014.
- One of the most surprising health insurance trends occurring now is that employers are modifying the insurance plans they offer to employees. For instance, there are higher out of pocket plans, less provider networks and cuts in coverage to spouses of employees.
- Some employers are choosing to provide wellness rewards or penalties. In other words, it’s cheaper to provide health insurance to employees who are healthy. Rewards will encourage people to get various health screenings.
If you need health insurance, be sure to get a free quote from the Schumacher Insurance Group.