Rising Costs Of Health Insurance: 6 Guides Which Policy To Choose

By Cami Ezenwa

One wellness topic of concern these days, is rising costs of health insurance, especially against the backdrop of ravaging diseases and tight household budgets.

Health, it is generally said, is wealth, and any man who aspires to any meaningful endeavour in life, must first and foremost secure his health both mentally, emotionally and physically.

However, many people who take cognisance of this, face obstacles deciding which policy to opt in to, one of which is the rising costs of health insurance.

In many climes, citizens do not have access to social welfare provisions that include free medicare. Shouldering this burden alone places them on a very dicey situation. Not only does it shatter their budgets, it leaves their health welfare insufficiently attended to.

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Nonetheless, other factors which individuals, organisations and bodies may do well to consider to weather themselves off the problem of rising costs of health insurance include:

1. Client-tailored policies: As much as there may be many health insurance firms in operation, the tendency is for the average client to go for that one which has policies that responds directly and adequately to their peculiar needs.
2. Flexibility of a Health Management Organisation (HMO): Even for healthcare services, there can’t be a one-for-all approach to the client’s heath. Service flexibility is as crucial here as it is in other service-oriented industries.

Armed with their attractive health service bouquets, health products marketers should not just be willing to listen to clients, but influence policies and packages that address their health needs..

3. Trust: As much as people worry about the rising cost of health insurance, many stay with the same fund and over time. The magic they say, is trust and confidentiality.

Health insurance can enhance healthcare delivery

What is the point of changing to a new policy or service provider where you have to start afresh to build trust and confidence; where you have to begin afresh to educate policy managers your health status, credit history etc.

4. Fear of sanctions: No law should appendage an individual to a particular service provider, especially against the background of rising costs of health insurance. However the possibility of getting sanctioned, can limit a client’s readiness to sample policy providers.

This is especially the situation where the sector is unionized.

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In other words, the possibility of easy migration or switching can be an incentive indeed, especially for clients who do not have the mega cash to throw around.

5. Higher benefits: Generally, clients are drawn to policy providers where they stand to gain higher dividends, whether in the form of subsidised subscriptions or payment rebates. In an era of rising cost of health insurance there, service providers, have also to be ready to bear one of two costs, if that would make their clients stay.