If someone told you that they didn’t understand their health insurance policy, it probably wouldn’t surprise you. It’s quite common that policyholders don’t comprehend the legal documents they are provided with, when signing the dotted line. Often, people don’t figure out what their policy covers, until they need it most. Sadly, they might be in a position where it’s too late. The worst case scenario sometimes becomes a reality, and policy holders eventually find out that they are excluded from specific coverage and that whatever it is that they pay for doesn’t cover as much as they initially believed.
We know that the ever day person is frustrated and disappointed when situations such as these arise. It makes the healthcare system seem unjust. People are beginning to ask themselves, “What exactly am I paying for when I procure health insurance.” They just don’t understand the language used when they buy. Online comparisons don’t help much either. If you happen to be policy illiterate, how can a fair assessment and judgment be made? If the situation isn’t changed, people will continue to be strained financially when they set budgets for healthcare. In a medical study it was revealed that 62% of all bankruptcies are due to medical cause and of these, three fourths had a health care plan. It just didn’t cover them when they needed it most. This just goes to show you that knowledge is the most important thing when dealing with health care. Health care transparency is the key to all heath care reform and provision.
The next step to consider then is a reform. The ACA knows that describing terms and offering customer service isn’t enough. For many years there has been a disconnect between patients and providers regarding what their policy covers, and the costs associated with it. The ACA is struggling to fix all these inadequacies but again, without understanding there can be no end to the mayhem that is the United States health care system.
It’s still unclear how exactly all this will pan out but one thing is certain. The ACA will continue to make transparency provisions which will not only help policyholders understand their coverage but also help reduce the overall cost of health insurance by doing so.