Ohio health insurance premiums are rising,Guest Posting even for those who do not use a lot of health care services. According to a survey conducted by Kaiser Family Foundation and the Health Research & Educational Trust, premiums have increased nationally by 97% in less than a decade, about three times as fast as wages and inflation.
This is a worrying trend because more Ohioans are looking to purchase coverage to meet the requirements of the Individual Mandate. Moreover, spending more on health insurance would mean having less to spend on essentials like food and gasoline. Understanding and controlling the factors that contribute to rising costs of health care can help slow down the rise in premiums to some extent.
Factors Contributing to Increased Expenses on Health Care
Ohio health insurance companies fix premiums based on age, location, and the costs to pay for members’ claims. According to leading health insurer Anthem Blue Cross Blue Shield, 87% of premiums are used to pay for medical services and products, 10% goes to cover administrative costs, and 3% to health insurer profits. It is the costs to pay for the claims of the insured that are going up and causing Ohio health insurance premiums to increase. Here are the main https://infowsieci.pl reasons why health care costs keep rising:
Use of advanced medical technology: The more frequent use of costly technology and high-tech procedures is one of the main reasons for the rise in health care expenditure. While some procedures or lab tests may be necessary and improve the quality of care, others are not. Ohio health insurance claims for new, advanced procedures are naturally higher.
Increasing use of prescription drugs: It is estimated that about two-thirds of Americans fill in a prescription every year. Prescription drugs are costly. The use of prescription drugs is increasing among Ohio adults with drug coverage. Though generic equivalents cost less, they take time to come into the market.
Detrimental lifestyles: Chronic diseases are responsible for up to 75% of the yearly expenditure on health care in the U.S. Many Ohioans lead unhealthy lifestyles which contribute to problems such as obesity and heart disease, raising the burden on the health care system. The U.S. Centers for Disease Control reported that in 2011, up to 29. 6 percent of Ohioans were obese. According to a recent study, up to 59.8 of Ohio’s adult population could be obese by 2030.