With the recent passage of the Health Care Reform Bill, one wonders how Americans will choose health insurance.
Aside from the fact that this country now faces mandatory health insurance or face a fine, there will be some fairly dramatic changes in the health care industry over time. While some of them may not be evident now, things will start to change as the various provisions of the new Health Care Reform Bill click into place.
No one can deny it took a whole lot of finagling to get the Bill passed over the protests of millions of Americans who didn’t want to be forced into buying health insurance. Perhaps the fallout of this decision won’t be seen for some time, but health care pundits are predicting the new Bill will change the way insurance companies deal with their customers and have quite the impact on the way doctors treat their patients.
The first thing that will affect Americans is that those who don’t have insurance will have to get it or get stung with an IRS penalty. Right now most insurance companies are scrambling to figure out how and what to provide in terms of a mandatory health insurance quote. Read: you will find a lot of tough competition out there, so if you’re looking for a deal, you just may find one. Whether the initial good premium prices will last – that is another question.
One shining bit of information here is that there is no way anyone may be denied health insurance if they have a pre-existing condition. Plus, insurance companies won’t be able to impose lifetime limits any longer or cancel your policy due to a current health issue. The idea behind that is it should ultimately level the playing field for all Americans. Having said that, things may be different in practice, as opposed to the theory behind the Bill. Only time will tell how this aspect turns out.
The biggest question that most of us are asking is how this new Bill will affect the cost of premiums. One question in particular has sparked an interesting debate, and that is with all the new millions of people having to get health insurance, will the companies make enough profit? Remember they won’t be able to deny anyone, so they may lose money on some insureds.
Let’s look at this from another point of view as well. Since there will be no universal coverage lifetime limits, does that mean the rates will get driven up to meet those new requirements? The answer to that is likely a maybe. You should also be aware that the mandatory health insurance quote you get “now” may not be the same one you get when you actually have to “buy” the insurance.
The bottom line will be this – the Bill will either be popular or not depending on the increase or decrease in the price of individual insurance policies. Will the market regulate itself and not go whole hog and overcharge because it can? Who knows, but one thing is for sure, we all care deeply about the answer.
Clelland Green is with Benepath.com, a leader in providing health insurance quotes. Benepath provides individuals, families, and businesses with affordable health insurance quotes in just a few mouse clicks. To learn more, visit http://www.benepath.com.