Every indicator says we are rapidly approaching the implosion of health care in Vermont and probably the nation. The 2021 Vermont Household Health Insurance Survey indicates 38% of Vermonters under age 65 are underinsured, as are 32.3% of those on Medicare. Since the Green Mountain Care Board has again approved large rate increases for both Blue Cross and MVP, this situation will only worsen.
The NPR article, "Sick and struggling to pay," reports 100 million people in the U.S. live with medical debt. "Some lost their homes. Some emptied their retirement accounts. Some struggled to feed and clothe their families. Our health care system pushes patients into debt on a mass scale."
People are "opting for higher deductibles to get lower premiums, struggling to pay cash until the deductible is met, sinking into debt, or not seeking care …."
Southwestern Vermont Medical Center's request for a 6% budget increase cited, "Increased pressures from the insurance companies and government payers, not to pay for services. Denials are increasing in numbers and hospitals do not have the resources to manage."
Despite this downward spiral, little or nothing is being done to address our failing system. Do those content with this status quo really feel this is sustainable?
What will the consequences of the implosion be? Do voters have enough understanding and will to vote in people willing and able to address the problem? Or do we just revert to true "everybody for themselves?"
PCF Insurance Services Joins PIA
iPipeline® Ecosystem Enables National Life Group to Create Fully Automated New Business Underwriting Platform
Advisor News
- Addressing the longevity paradox
- Employers shift focus from retirement access to financial outcomes
- Helping widowed clients navigate their new financial reality
- Navigating client communication in a digital age
- Can your advisory firm survive without you?
More Advisor NewsAnnuity News
- Farm Bureau P&C insurers post first underwriting gain since 2021
- Legacy Marketing, Malibu Life launch two fixed indexed annuities
- Changing client priorities are reshaping annuity conversations
- Solen Software acquires annuity software provider Cooperative Technologies
- MassMutual Expands Lending Options With New Secured Credit Line
More Annuity NewsHealth/Employee Benefits News
- Reports Summarize Managed Care Study Results from Brown University (Litigating the No Surprises Act: How Legal Challenges Undermined Cost Containment and Reshaped Provider Payments): Managed Care
- Researchers from Geisinger Provide Details of New Studies and Findings in the Area of Managed Care and Specialty Pharmacy (Trends In Annual Medication Possession In Older Adults With Type 2 Diabetes): Drugs and Therapies – Managed Care and Specialty Pharmacy
- Job-Based Health Plan Costs Rise, With Little Relief in Sight
- Here’s what Gov. Moore and Dan Cox promised Marylanders with disabilities
- AmeriHealth Caritas to join Ohio Health Insurance Marketplace in 2027
More Health/Employee Benefits NewsLife Insurance News