As Washington continues it’s plan to overhaul our healthcare system, most have many questions about how the new system will work, what will be required of them and what it will cost. President Obama’s plan will include a government health plan options, which will compete with private insurance. While the impetus for change is great, it will take up to 10 years to fully implement either of the healthcare reform proposals being considered.
This kind of reform proposal is a great concern to medical insurance companies providing individual medical insurance and affordable medical insurance to healthcare workers, they feel that they will be the losers in the newly formed system. One of the proposed reform options being suggested is to require all American’s to be insured, this would enable insurerd to lower medical insurance cost by spreading the risk over a larger population. Many feel that a mandate requiring everyone carry medical insurance coverage is necessary to bring cost down. Otherwise people seeking insurance only after getting sick will drive up the cost for those already enrolled.
The model, which provides the mandated insurance for all, would allow the insurance companies a larger pool of enrollees over which the risk would be spread. This would free up more capital for paying claims. A great benefit of of this reform would be that all would be able to get coverage, regardless of medical history.
The bottom line is that the cost of medical coverage will be much lower if everyone is on board, meaning that we will not only be insuring the sick, but also healthy American’s under this new health care plan. This will allow the insurance companies to cover more people and provide better coverage to all.In the immediate future health care costs may rise, as more people have insurance coverage they may visit the doctor more often for every little thing. But once this initial surge is past, the need will return to average and everyone will be healthier.