Health Insurance Companies: Will They Survive?

Health insurance companies are taking a lot of the blame for the problems in the health care systems. Will health insurance companies survive the attacks? A large percentage of individuals and medical professionals do not like health insurance companies. Why? The insurance companies have an image. That image is that they deny some medical tests, refuse some claims, and drive up costs. A new law will change healthcare. In the future, the big healthcare giants will have to deal with several issues. They will have to deal with competitors. They will have to deal with reforms. They will have to deal with consumers.

Dealing with Competitors

First, there are many changes on the way for health insurance companies and the competition is getting fierce. Like it or not, the federal government is running on to the field. The government will be making payments directly to care providers. Therefore, many of the organizations that take care of patients will be getting paid by the government. Insurance companies will be competing against doctors, personal care facilities, clinics and surgical centers, nursing homes, treatment centers, and hospitals. By the year 2022, these organizations and centers will be performing the same services as your present health insurance company. They are hospitals that offer their own health care plans for their employees and their employees family members.
Dealing with Reforms Next, insurance companies will have to deal with healthcare reform. The governments and politicians are always having talks about health care issues. Some of these discussions may prove to be beneficial for insurance companies. On the other hand, legislation may not be beneficial. For example, The Affordable Care Act gives consumers more protections. The law provides health care for pre-existing conditions. Patients can select their own primary doctor. Insurance companies must publicly justify rate increases. Adult children may be covered until the age of 26.By 2014, there will be no annual limits on patients health benefits. If you make an honest mistake on your application, your policy can not be easily cancelled.

Dealing with Consumers

Moreover, health insurance companies must deal with consumers. You hear it all the time. The insurance company will not pay for the procedure. Then, the patient goes home and dies. This occurs frequently and it is one of the main reasons why healthcare is discussed in the media. For instance, a 37 year old man from Mission, Kansas died from Kidney Cancer. Why? The insurance plans administrators and others repeatedly refused and denied this man insurance coverage for treatments. This can happen to anyone at anytime. How would you feel if you were treated this way? A change is on the way and it may make things better for all persons that need immediate and future health services. Finally, no one is picking on the insurance companies. There are too many stories out there to ignore about how coverage, services, and care are being denied. Consumers want a change. This is why the health insurance companies will have to deal with competitors, reforms, and consumers if they want to survive.

Author’s Bio: Frank Lee writes for Healthinsurancecompanies.com and is open to writing on a freelance basis about anything related to insurance industry.