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Good Neighbor Travel Insurance Blog

Who’s to blame for rising healthcare costs?

March 7, 2014 By : Allison

Are insurance companies to blame for health insurance being so expensive?

The costs associated with treating disease and healing the sick continue to rise. And new PPACA healthcare laws mean everyone is being charged more – For maternity care and other benefits they may not ever need (think seniors, men, children,…) or ever require. A new AP Poll says that 77% of people blame so-called Obamacare for their rising healthcare costs. But some are reporting that healthcare costs are skyrocketing due to the health insurance companies themselves. Middlemen, Administrators, File clerks, Transcriptionists, responding to more and more records and claims, than your aches and pains, all while doctors in many cases are being offered less per patient this year. As are hospitals.

“Because insurers are paid a fixed percentage of the claims they administer, they have no incentive to hold down costs.” So says Jeffrey Pfeffer for Bloomberg Businessweek (http://www.businessweek.com/articles/2013-04-10/the-reason-health-care-is-so-expensive-insurance-companies)

And while insurance carriers say that industry “profits” are not the reason costs keep going up, profits are not the same as a growing industry employing more and more workers that require to be paid, as well as require their own health benefits. Of course, private insurance companies also help detect fraud, encourage development of generic drugs, negotiate lower competitive pricing, instill wellness programs, and invest in medical information technology.

Aetna has felt the need to respond, by reporting their profits and inflation compared to other costs associated with healthcare as well as the industry as a whole. See their response here: http://www.aetna.com/health-reform-connection/aetnas-vision/facts-about-costs.html

Internationally healthcare costs are also rising, especially in Singapore, Macau, Hong Kong, China, Taiwan, and Japan. And in poor, developing countries it’s rising even faster than in the West. (see http://economix.blogs.nytimes.com/2013/06/27/a-world-of-rising-health-care-costs/)

Whether you bypass the health insurance carriers by self-funding your own health plan for domestic and international workers; or choose group insurance with an international carrier and a broker that understands how to customize your benefits (as well as use other cost-saving techniques) to protect your staff, a good neighbor always helps. It’s our goal to do everything we can to help good people put good ideas to work overseas and see good results – To keep them safe. To use funds wisely. To see the job through to completion. We’re good so you can be better.

Allison

Search Results

Health insurance for Workers in War Zones

February 2, 2010

Ongoing threats against Americans living and working in war zones raises the question about health and travel insurance. This post explains the benefits and exclusions of insurance for war situations.

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No breathalyzer test could mean local medical insurance will not cover you

March 27, 2017

No breathalyzer test could mean your local medical insurance will not cover you. Yes, this is a sad and true story.  Read the fine print!  Yes, the big print giveth and the little print taketh away.  This is one of the reasons why it is important to have travel insurance and expat medical insurance based […]

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Dental Benefits are an important part of the total medical insurance benefit package

April 27, 2015

Dental Benefits are an important part of the total medical insurance benefit package.  Here is some good information on dental coverage, the benefits, and options you may want to take.  Call one of our agents here at Good Neighbor Insurance at 480-813-9100 for dental insurance options or go to our dental web page at https://www.gninsurance.com/resources/ask-doug/aca-plans/az/arizona-dental-insurance/.  We are […]

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Pre-existing medical insurance for overseas coverage

August 8, 2016

Pre-existing medical insurance for overseas coverage can be an obstacle for someone living or traveling outside the United States. Those residing in the U.S. now have great health coverage that covers all pre-existing conditions, albeit for a higher premium. What is a pre-existing medical condition? A variety of definitions are floating around but here is one […]

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Don’t let your Short-Term Team Trip Abroad Become a Nightmare

November 26, 2010

Short-term teams need health and travel insurance that covers medical bills, medical evacuation, and return of mortal remains. Don’t let your short-term team adventure turn into a nightmare.

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Health insurance for international students in the U.S.

January 16, 2013

All international students studying in the U.S. must have U.S. based or equivalent medical health insurance to include repatriation of remains (in the event of you passing on) and medical evacuation back to your home country of residence.  There are four major options for you: 1.   Your College or University that you will be attending […]

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