A Kaiser Family Foundation survey reveals that 77% of enrollees with non-group coverage faced premium increases in the past year and "ever skimpier coverage."
NATIONAL REPORTS-In a more scientific picture of the individual market, a Kaiser Family Foundation survey reveals that 77% of enrollees with non-group coverage faced premium increases in the past year, and "ever skimpier coverage is as big an issue for people as premium increases," says President and CEO Drew Altman.
Those 77% were asked for an average of 20% higher premium payments, but not all of them remained with their existing plans. Sixteen percent switched plans or bought down to lesser coverage, realizing a 3% average premium reduction. Those that did remain ended up paying 18% more on average.
"For those with pre-existing conditions, there is some sense of being stuck in their plan," says Mollyann Brodie, vice president and director of Kaiser's public opinion and survey research.
However, 74% of respondents say they're likely to keep buying coverage a year from now. Half believe it would be difficult to switch plans because of pre-existing conditions, premium prices or the task of shopping around.
Brodie says those who buy their own insurance are somewhat older than those with employer-sponsored coverage, but they do have similar incomes and health status. Nearly half are self-employed or small-business owners.
The Departments of Health and Human Services (HHS), Labor, and the Treasury, released final rules on short-term, limited-duration insurance (STLDI) and independent, non-coordinated excepted benefits coverage, addressing issues related to the low-quality insurance, or "junk insurance" plans.
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March 28th 2024MHE Editors are seeking diverse healthcare professionals from different backgrounds and healthcare sectors, with individual interests. Eligible candidates are early or mid-career leaders with less than 10 years of experience. Award winners will enjoy complimentary passes to the PBMI Annual National Meeting in Orlando, Florida, from Sept. 4-6. Additional perks include a feature in our August issue, a subscription to MHE and more!
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With aging populations, osteoporosis rates are set to increase, and researchers are looking for the next innovative drug to help prevent or manage the bone disease as there is currently no drug that completely does so effectively, according to a recent study published in Advanced Science.
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