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Health Insurance Costs Per Month Question & Answers

2014 November 15
by Sarah Fields

Sandy asks…

What accounts for the incredible and outrageous spike in the consumer cost of health insurance since 2000?

Since 2000 or 2001, the consumer cost of health insurance has exploded exponentially. It was easy to find individual coverage for less than $100 per month then, but it’s about $500 now. I don’t see how 9/11 could have this effect, and inflation wasn’t an issue then. I haven’t heard anything explaining the spike.

Sarah Fields answers:

Two things – the incredible and outrageous spike in USAGE of health insurance, and the incredible and outrageous increase in costs of medical care.

Oh, I guess that’s only one thing: The incredible and outrageous INCREASE IN CLAIMS PAID.

Doctors and hospitals are ordering more and more testing. We’re demanding more and more, and more expensive, testing to find conditions that may or may not exist. We’re getting fatter, as a nation. We’re getting older. And doctors and hospitals have been increasing their costs MUCH faster than inflation.

Maria asks…

Bachelors, how much does your Health insurance cost you?

Bachelors, how much does your Health insurance cost you?
I dont care if you have it with your employer thats not what Im asking. How much does it cost you independently per month? Im a healthy 25 year old male and I think Im going to eventually have to get health insurance myself.

Sarah Fields answers:

$80 per month.Through employer.

Joseph asks…

With this new health care bill can I just get insurance if I get sick?

I have health insurance now that costs me quite a bit per month. Since companies can no longer deny due to pre-existing conditions can I drop my insurance and then just get it again if I get sick and need it? Who in their right mind wouldn’t do that? It’s like only buying housing insurance when you have a fire or car insurance after an accident – so much cheaper. It seems almost like they didn’t think about that when they wrote the bill.

Sarah Fields answers:

OK, you realize that none of the insurance part kicks in for three more years, right? Right now, the only thing that kicks in, are tax increases.

But you’re correct – anyone who does the math, will realize that it’s way cheaper to wait until something happens to buy insurance. And then they’ll act that way. It’s called ‘adverse selection’.

And frankly, they don’t care about it (the politicians), because that’s not the POINT of the bill. The POINT, is to create more demand for public option or government health insurance, and create more entitlement programs, and create more dependency on the government.

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