Louisiana sees health insurance costs rise

0


SHREVEPORT, Louisiana (KSLA) – The health insurance application deadline is Wednesday December 15th for people who want their healthcare to take effect in early 2022. People can still apply until January 15th.

Louisiana has the fifth highest individual health insurance cost, according to a ValuePenguin to study.

“We are seeing some medical treatments postponed as individuals budget their money elsewhere,” said centenary economics professor David Hoaas, PhD.

According to Commonwealth Fund, 41% of uninsured patients chose not to see a doctor when they had a medical problem. This is because those who are underinsured or uninsured cannot afford (or will not) foot the bill themselves.

“Especially with COVID, a lot of people have lost their jobs,” said Andrea McKnight, director of development for the David Raines Community Health Center. “When you lose your job, you have no insurance. “

Premiums become more expensive for those who receive health care through their employers.

“Businesses, businesses pay a smaller portion of their employees’ health insurance,” Hoaas said.

He also mentioned that healthcare in general is getting more and more expensive.

“For people receiving employer-provided health care, average annual premiums for family coverage have increased 37%, from $ 15,545 in 2015 to $ 21,342 in 2020,” according to Investopedia.

Commonwealth Fund found that “premium contributions and deductibles made up 10% or more of median income in 37 states in 2019,” including La., Ark. and Texas.

“Health care becomes more expensive as the population increases, as people age and live longer,” according to Investopedia. “Therefore, it is not surprising that 50% of the increase in health care spending comes from the increase in the costs of services, especially inpatient care for inpatients. “

Hoaas noted that while the pandemic may have highlighted this increase, it is not new and has, in fact, been trending upward for years. Investopedia co-signs this observation and says they “should continue to increase”.

For resources, click here.

Copyright 2021 KSLA. All rights reserved.


Share.

Comments are closed.