HEALTH INSURANCE ISSUES
Recent studies show that the prices of health care insurance plans have been gradually increasing over the years. This price increase is driven by virtually endless number of factors, but the most noticeable driver would be the increased utilization of the policies.
As the consumer demand for health insurance increase, so does the utilization of this. Although the companies have anticipated that these insurances will be used at one point or the other, what they did not foresee was the simultaneous usage of these insurances.
As it is, people in developed countries live longer. They acquire services and have access to facilities to prolong their lives because the expenses were shouldered by the health insurance coverage. Furthermore, the fast-paced advances in the field of medicine require high modes of payment as well.
Although the reason above is unavoidable, this other one is: lifestyle. Increase in obesity by unhealthy food choices (population-based), excessive alcohol intake, smoking (resulting to complications like lung cancer), and the use of street drugs, are only some of the factors being considered as the major drivers for insurance price increase.
Because of this, some people who could not afford the inflation of price will have to resort to the basic insurance policies, or worse, not have any insurance plans at all.