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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

Travel Insurance with Personal Liability coverage

May 16, 2018

Accidents happen. Nothing disrupts your overseas stay faster than being involved in one. And nothing will drain your entire life savings faster than being at fault and not having personal liability insurance.  With personal liability insurance being so inexpensive, why would you travel without it? This usually happens when we neglect to ask the right […]

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travel insurance with personal liability protects others as well as yourself

Do you realize your health care plan may not cover you in Canada?

January 20, 2010

Is traveling to Canada from the U.S. for the Vancouver Winter Olympics considered an international trip? Yes. Your U.S. domestic health insurance plan – whether it is individual, group, Medicare or Medicaid – will not cover you in Vancouver for medical evacuation.  They may cover doctor and hospital visits, but they won’t cover you for medical […]

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Update on grandfathered plans for U.S. group insurance – November 16, 2010

November 17, 2010

Good Neighbor Insurance (www.gninsurance.com and www.gninsurance.com) is continuing to update our clients on the new health insurance laws.   There are six major coverage options for those in the US and even though some of the rules and regulations are similar for all many differences are there and it all depends on how old you are […]

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About On-site medical case management and evacuation – Hong Kong, China

June 6, 2012

Good Neighbor Insurance, Inc provides top-notch international travel insurance benefits that include medical evacuation.  You may view one of our best evacuation travel plans for those who are traveling and residing overseas for business that also covers security evacuation at www.onlineglobalhealthinsurance.com/global-rescue.asp.   We have a variety of other travel insurance plans that you may view at […]

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A Look at Healthcare Systems Around the World – England

March 29, 2010

Britain’s health care system may offer “free” health care for its citizens, but most don’t see the hidden costs of such a system.

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Frequent Questions We get Asked About the New Health Insurance Law – Part 1

April 28, 2010

Good Neighbor Insurance is continuing to update our clients on the new health insurance laws. It may seem confusing at first but as we “walk” through these laws we will learn the “upside” and the “downside” of their impact on us.  With all the changes on the horizon, one of the most common questions asked […]

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