Health Insurance Numbers Show Troubling Trends

As more and more Americans find themselves losing and/or looking for health care coverage attention to federal health care reform is increasing.

According to a recent report from the Census Bureau, the number of uninsured in the U.S. hit close to 51 million people in 2009, compared to 46.3 million the previous year. That figure was a spike from 15.4 percent of the population in 2008 to 16.7 percent one year later.

The Bureau reports that a large number of these Americans are not part of the typical stereotype of individuals who do not have or cannot afford coverage. Many of the individuals are middle class or recently unemployed and are not able to access insurance.

According to the Census Bureau, there is 4.4 million newly uninsured and half of those sport incomes of $50,000 or more.

With the passage of the Obama health care plan, a number of provisions are being implemented this year.

The pre-existing condition insurance plan means individuals with pre-existing conditions and who have been uninsured for a minimum of six months, will have access to affordable coverage through a temporary, pre-existing condition insurance plan in their state. Premiums will be gauged on the health status of a standard population, with the annual out-of-pocket expense capped at $5,950 for singles and $11,900 for families.

Another change will be that parents are now able to retain their children on policies until they are 26.

When it comes to children, insurance companies can no longer turn down health coverage for children with pre-existing conditions or exclude their conditions from coverage. In regards to preventative care, all group and individual policies will be required to provide free preventative care for recommended preventative services and immunizations.

Insurance companies are also impacted in 2010, as they are now prohibited from rescinding peoples’ coverage when they become sick, and cannot impose lifetime caps on coverage.

Another change this year is that insurers will now have an annual review of premium increases. Health insurance providers must submit justification for unreasonable premium hikes to the federal and relevant state governments prior to having them take effect. They also will be required to report the share of premiums spent on non-medical expenses.

Some estimates place the health care reform bill at an estimated cost of $940 billion over a decade, with many of the projected changes beginning in 2014.

For individuals currently without health insurance, be sure to shop around for the best coverage options.

There is affordable health care out there, it is just a matter of investing time and money in it.