Health insurance costs rising, more Oklahomans losing insurance

OKLAHOMA CITY (KFOR) — Healthcare insurance costs are rising fast and Oklahomans are taking a hit.

Experts say some premiums are climbing as much as 75%, which has led to another issue.

Health insurance costs to possibly climb for thousands of Oklahomans

A recent report shows Oklahoma now has the 3rd highest percentage of uninsured healthcare residents.

The study by NiceRx, a healthcare company in the US, says one in nearly nine eligible Oklahomans don't have health insurance now.

Experts say the concern is, that number will only grow, as healthcare costs continue to climb.

"I think what it really boils down to is that people are scared, because they know that getting sick in this country, and in this state in particular without having insurance coverage, you could be financially devastated," said Dr. Melinda Cail.

Local doctors and health leaders are expressing concern as healthcare premiums continue to rise, putting a strain on Oklahomans.

"The worry is that they're not going to be able to afford to go in if they're a little bit sick," said Dr. Cail. "So, then they wind up waiting and they get sicker, or wind up in the hospital. And then that winds up spreading more costs to everybody."

The Oklahoma Insurance Department expects statewide rates will rise to an average of 20%-21% this year, with individual plan premiums increasing by up to 75%.

"We have a high incidence of high blood pressure, diabetes and kidney disease in Oklahoma, among other chronic diseases," said Dr. Cail. "So, when those things go untreated, people get more serious diseases like kidney failure and heart attacks and other things."

A recent study by NiceRx shows Oklahoma now has the 3rd highest percentage of uninsured residents.

"People will lose their insurance, or people will have to cut other things out of their budget so that they can afford their insurance," said Dr. Cail.

Dr. Cail says eventually, everyone will feel the burden of rising costs.

"I think it's going to make health care harder to access for everybody and more expensive," said Dr. Cail. "We'll see everybody's premiums ultimately go up. Your co-pays will go up. And I think it's really going to impact us in our wallets."

She knows it will be difficult in someway for everyone, but offers this advice.

"I would say make sure that you are leveraging any sort of health savings account, whether that's an HSA or an FSA or flex spending or anything like that," said Dr. Cail. "Oftentimes your employer will match those funds for you. So, make sure that you're saving that money and using it wisely."

Experts say Oklahoma teachers and public employees will face the biggest challenge.

Dr. Cail believes costs will continue to rise until legislators step up and make a change.

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