Post by ck4829 on Oct 23, 2022 11:28:40 GMT
We must address medical debt during this Health Literacy Month
We are in the midst of a national crisis affecting the lives of more than 100 million Americans, including Delawareans. This crisis is worsening racial disparities in health and wealth. It’s stopping some Americans from saving for retirement and others from investing in their children’s education. It’s forcing patients who may have just months to live to spend their last days on earth fighting corporations over medical bills and coverage. This is the crisis of medical debt in America, and it’s crushing millions of hardworking families.
That’s why this October — Health Literacy Month — Consumers for Quality Care is sharing information that Delawareans can use to help keep their out-of-pocket health care costs low and avoid medical debt. The key tips are to avoid tricky health insurance plans and policies, to ask good questions about charity care options, and to know your rights if you ever get stuck with a surprise medical bill.
Choosing the right health insurance has a huge impact on Americans’ finances. When choosing insurance for you and your family, it’s important to watch out for Short-Term Limited Duration Insurance plans, or STLDI plans. These so-called “junk plans” are insurance in name only, and are exempt from many of the consumer protections found in the Affordable Care Act. Although they may have lower monthly premium payments, STLDI plans often exclude pre-existing conditions, have dollar value limits on covered services, and aren’t required to cover preventative medical services at all. In fact, for every $1 you pay in premiums, STLDI plans often spend less than 10 cents on your health care — and out-of-pocket expenses can pile up quickly under these plans.
But it’s not just junk plans that lead to high out-of-pocket costs and medical debt. The rise of health insurance plans with high deductibles (the amount you are responsible for before your insurance begins covering treatment), high copays (the amount your insurance requires you to pay for a treatment), and high coinsurance (the percentage of costs of a covered service you pay even after you’ve met your deductible) means that insured Delawareans seeking care are often left with large bills they are unable to pay.
www.delawareonline.com/story/opinion/2022/10/23/medical-debt-needs-greater-and-more-urgent-attention/69580506007/
We are in the midst of a national crisis affecting the lives of more than 100 million Americans, including Delawareans. This crisis is worsening racial disparities in health and wealth. It’s stopping some Americans from saving for retirement and others from investing in their children’s education. It’s forcing patients who may have just months to live to spend their last days on earth fighting corporations over medical bills and coverage. This is the crisis of medical debt in America, and it’s crushing millions of hardworking families.
That’s why this October — Health Literacy Month — Consumers for Quality Care is sharing information that Delawareans can use to help keep their out-of-pocket health care costs low and avoid medical debt. The key tips are to avoid tricky health insurance plans and policies, to ask good questions about charity care options, and to know your rights if you ever get stuck with a surprise medical bill.
Choosing the right health insurance has a huge impact on Americans’ finances. When choosing insurance for you and your family, it’s important to watch out for Short-Term Limited Duration Insurance plans, or STLDI plans. These so-called “junk plans” are insurance in name only, and are exempt from many of the consumer protections found in the Affordable Care Act. Although they may have lower monthly premium payments, STLDI plans often exclude pre-existing conditions, have dollar value limits on covered services, and aren’t required to cover preventative medical services at all. In fact, for every $1 you pay in premiums, STLDI plans often spend less than 10 cents on your health care — and out-of-pocket expenses can pile up quickly under these plans.
But it’s not just junk plans that lead to high out-of-pocket costs and medical debt. The rise of health insurance plans with high deductibles (the amount you are responsible for before your insurance begins covering treatment), high copays (the amount your insurance requires you to pay for a treatment), and high coinsurance (the percentage of costs of a covered service you pay even after you’ve met your deductible) means that insured Delawareans seeking care are often left with large bills they are unable to pay.
www.delawareonline.com/story/opinion/2022/10/23/medical-debt-needs-greater-and-more-urgent-attention/69580506007/