Is affordable health insurance price beyond our reach?

The last two decades have seen the medical and health industries take giant leaps in advancement and improvement of technology and methodology. Three hundred years of gradual advancement in treatment and medical techniques have simply been doubled in the past twenty years! It is common to find cures for previously incurable diseases today and this mind boggling trend of improvement is only bound to grow.

As good as this might be, there is also a big drawback that has been brought upon us, by this technological leap. The basic cost of treatment and medicines have also risen in direct proportion to the advancement and currently stand at three times the price that was twenty years ago. Insurance companies have been forced to increase the health insurance price to cover their risks and make profits. And, this leaves us in an untenable position.

The other factor for increase in health insurance price is the insistence of the medical professionals and in some cases, the insured themselves, on the usage of costly technology for treatment and diagnosis. Costlier procedures have become the common norm because of the frequency of usage rather than the non availability of alternate treatment.


A simple example can be the dental implant procedure; there are easier and less costly procedures available, procedures that can easily replace the costly but aesthetically good implant procedure. But, people prefer to go for implants…why? Because it is available and it is the latest! The cost or the alternatives don’t matter. This mentality is typical of high earning people and American are one of the highest earning people in the world.

Higher costs and rising prices should not deter the people from buying health insurance. The necessity of health cover in this costly time cannot be discounted. But the biggest drawback is that the salaries and remuneration of the people have not risen in similar proportions to the medical advances. Health insurance prices, which were easily affordable previously, are not within the reach of many people today.

The only way for the common man to overcome this lopsided situation is by ensuring that he gets the maximum value for every dollar that is paid as the health insurance price. Knowledge and savvy can definitely let the people to be adequately covered at relatively lower costs. The trick lies in understanding ones own health insurance needs and then base the purchase of the health cover on these needs.

Age, medical history, existing ailments, exposure to hazards and heredity are the major factors that determine health insurance price. The insured can do better to first analyze these factors by themselves before checking on the plans. Clear understanding of facts not only gives an idea about the cost involved, it also helps in choosing the correct insurance plans. Health insurance is relatively costly but it also is a necessity in the present day world. Health insurance price should not be the overriding factor that determines your insurance purchase; it should be the resultant factor that arises out of your needs.

Similar posts:

1. Best ways of buying health insurance
2. No health insurance means high health care cost
3. Cheep Car Insurance : Do not compromise on coverage
4. Is America the best on world health insurance scale?
5. Top health insurance companies : How to identify them