About 66% of Americans worry that they can’t pay for healthcare costs. Between the costs of healthcare, insurance denials, and COVID-19, healthcare is a hot topic.
Health insurance companies are trying to adapt to the times, which makes the marketplace that much more confusing.
Where is the health insurance industry going this year and in the future? What’s going to happen to health insurance?
You’ll want to keep reading because this article has you covered. Read on to learn what the health insurance 2021 trends are and what you can expect from your provider.
1. Cost Remains an Issue
Health insurance premiums are an issue for individuals and small business owners alike.
Not only did the health insurance costs go up in 2021, but they’re projected to rise in 2022. Employers should expect to see an increase of 6.5%. This could be higher depending on your insurance company.
Small business owners recovering from the pandemic might have to increase cost-sharing with their employees.
There is some good news for those who signed up for insurance through the Healthcare Marketplace. The health insurance premium tax credit was raised in 2021 and applies to your costs in 2022. You should have already noticed a lower bill a few months after the American Rescue Plan got passed.
2. Healthcare Goes Digital
Health insurance companies had to adapt to the pandemic. Some were already heading in that direction beforehand with the introduction of telehealth. You could take care of your entire doctor’s visit online.
The pandemic accelerated telehealth, and it will continue to be an option in 2021 and 2022.
Your health insurance company isn’t the only company going digital. Smart devices like fitness trackers will contain a lot of health information. These devices will continue to play an increasing role in your overall health.
3. Supplemental Insurance Grows
Medicare is a government health insurance program for people over 65 and those with disabilities. This is a great program, but it’s confusing and it doesn’t cover everything.
Part A covers hospital stays, surgeries, lab tests, home health care, and hospice. Part B covers doctors’ visits and medical equipment.
The things that aren’t covered are usually covered by supplemental insurance, called Medicare Advantage plans. These Medicare plans are offered through private insurance companies.
The demand for additional health insurance coverage will increase, as will the demand for Medicare Advantage.
4. Increased Collaboration
How does the quality of care improve? Thanks to better technology, doctors and insurance providers have a complete picture of your health history.
You might have a team of doctors working together to address various issues. It’s critical that they understand your health situation. Otherwise, you’re going to have to remember the details and repeat the story over and over again.
You’ll do less of that because technology allows these practitioners and providers to exchange information.
Health Insurance 2021 Trends
Health insurance continues to be a major concern for everyone. It’s hard to predict what’s to come, but these health insurance 2021 trends should give you some important insights.
For more health content, check out the other articles on this site today!