Health Insurance – What’s In Our Future?
Posted by InsuranceRP on 11/4/07 in Finance, Health
Insurance is really a primary form of risk management. It is defined as an equitable transfer of the risk of loss, basically in exchange for an amount known as a premium.
Health insurance is most commonly purchased as group insurance, however, in the U.S., this is declining at a steady pace. Many companies who used to offer health insurance as part of their benefits package for their employees have had to discontinue this perk due to sky-rocketing health insurance premium costs.
Individual insurance can be affordable for some, but the monthly premiums that must be paid regularly can be a new burden. Most households have their budget in place, and coming up with the extra amount needed for health insurance – something that has always pretty much been a freeby is a real thorn in one’s side.
It’s hard to say which generation you should feel sorrier for – the aging population that sees their benefits drop and their rates go up…right when they need their health insurance the most? Or, the young adults just getting started in their careers, starting families, buying homes…they’re understanding that this "perk" will never be afforded to them, that it will be their responsibility to obtain health insurance, along with automobile, life and homeowner insurance.
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