In 2020, Fort Worth health insurance costs will increase tremendously. The average family health care cost last year, according to the Kaiser Family Foundation, was $20,576. This is a huge problem. For out of 166 million persons who own a major medical policy in the US, about 6.5% get their insurance via the Affordable Care Act and the remaining 94.5% from employer sponsored plans.
This means that employer would have paid most of this cost. As a direct result, the more an employer spends on health insurance in places such as Fort Worth, less is spent on wages. In-reality, when such a large amount is spent on the behalf of an individual for health premiums, that’s money that could have gone to remodel a home, purchase a new car or directly into the pocket of the employee as a raise.
The number one reason health costs are soaring according to the Centers for Disease Control and Prevention is obesity and obesity-linked diseases. An obese adult uses 42% more health insurance in Fort Worth than a healthy weight adult. A morbidly obese adult uses 81% more insurance. When a morbidly obese co-worker or their family member uses huge amounts of health care, their extra costs are shifted into a group fund that increases everyone’s premium the following year.
All-across the world health insurance costs are soaring, even in countries with socialized medicine. The reason for this is obesity. Everywhere, obesity and obesity related costs are the blame. Nothing will tame costs that doesn’t first attack this issue.
Obesity is linked to heart disease, stroke, high blood pressure, colon and breast cancer and health issues that have a direct effect on the US deficit. Much of which is related to the rise in cost of social programs such as Medicare and subsidize ACA plans sold by health insurance agents in Fort Worth and throughout the country.
At the same time, diabetes costs have shot up from $21 billion to $90 billion in the last 20 years. Heart disease still costs more, but diabetes is growing faster and will soon overtake that disease in cost unless consumers change their behavior.
Changing one’s behavior may not be as hard as one may think. After educating the public on the health issues of smoking, Americans can change behavior again by confronting the self-destructing nature of obesity with the same techniques used for smoking. While some persons are obese due to genetic reasons, most are obese due to bad eating habits. As a result, changing eating habits can reduce health insurance cost in Fort Worth and around the world.
The average American consumes about $11,000 a year in healthcare. But the averages are obscure, for the truth is that 95% of the population consumes 50% of the health care cost. So, this means that the other 5% of Americans will consume the other 50% of costs. Therefore, charging everyone the same premium based on age for health care is a rip off for healthy persons with a healthy diet.
One way to mitigate the high costs of health care is to allocate more cost/policy to persons with bad eating. A less politically correct way of saying this is, “Charge more premium for overweight persons”. This is called reinsurance. In states such as Alaska, Maryland, Maine, Minnesota, New Jersey, Oregon and Wisconsin, the US government is doing just that and reducing premiums by as much as 20% across the board. The 50% of cost that is consumed by 5% of people is absorbed in reinsurance, paid by the federal government. Allocating more cost to this high-risk group, then paying for it directly, is smarter than subsidizing the healthy majority to overpay their premiums.
The ultimate answer to reducing health insurance costs of course is to manage eating habits. Consuming two plates of food, desert and a high calorie drink will not reduce weight loss. Therefore, watching one’s portions and eating fresh fruit and vegetables can really reduce the total cost of health insurance in Fort Worth and the rest of the world. By doing this will reduce the cost of health insurance for open enrollment 2020.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed information on health insurance with the ability to purchase health insurance online. Insurance4Dallas provides a full spectrum of health, dental, vision, life and ancillary insurance products, providing a diverse selection of price and benefit options complemented by personal customer service. Available via phone, email or fax, Insurance4Dallas answers consumer questions throughout the purchasing process and during the utilization of its health insurance policies.
Release ID: 88934323