⌄ Scroll down to continue ⌄

7 Compelling Reasons Why Healthcare Premiums Keep Increasing

⌄ Scroll down to continue ⌄
7 Compelling Reasons Why Healthcare Premiums Keep Increasing

The US is one of the highest spending countries when it comes to healthcare costs. These cost have steadily grown over time, most notably in the last decade. The worst part about everything is the fact that while these costs keeping growing, the quality in medical treatment is not growing along those same lines. Providers use leverage in the market to determine fees and that causes inflation that results in higher fees and premiums. There are 7 major factors that contribute to driving up health insurance premiums.

The first is new medical technology. This is a natural cause of rising premiums as there will always be new technologies being developed. The positive side of this is that with new technologies comes better medical care.

⌄ Scroll down to continue reading article ⌄

⌄ Scroll down to continue reading article ⌄

The second factor that drives up insurance costs is inflation due to providers.

The third reason is the low usage of primary care physicians. When people need specialist doctors their primary care physician will act as a gatekeeper to those specialists, thus lowering the cost.

⌄ Scroll down to continue reading article ⌄

⌄ Scroll down to continue reading article ⌄

That leads us to reason number 4 which is high spending on specialists.

The fifth reason is the aging population. We all know that with age comes increased health problems. It is important for the aging population to get their health care as cost effective as possible.

⌄ Scroll down to continue reading article ⌄
⌄ Scroll down to continue reading article ⌄

The sixth reason is one that we have little control over and that is the rise in chronic illnesses. The very last reason is that of medical frauds that are committed. The reasons stated above were discovered through

Carrington College. The information tells us that there is a lot that we cannot control when it comes to some things that contribute to the rising costs like new technologies constantly developing and aging population. There are however things that we can control like increasing the number of primary care physicians in order to decrease the cost for specialists. Lowering the cost of health insurance starts with doing a good job with what we can control. To get a better understanding of the factors stated and how they directly affect your premiums, please view the infographic below: why-is-health-insurance-expensive

     

    ⌄ Scroll down to continue reading article ⌄
    ⌄ Scroll down to continue reading article ⌄

    More by this author

    How to Financially Plan for Your Retirement
    How to Financially Plan for Your Retirement
    5 Lifehacks to Increase Activity in Your Job
    5 Lifehacks to Increase Activity in Your Job
    Make Your Family Vacation Cheap And Fun In A Way Most People Don’t Know
    Make Your Family Vacation Cheap And Fun In A Way Most People Don’t Know
    5 Tips to Help You Choose the Right Medical Career Path
    5 Tips to Help You Choose the Right Medical Career Path
    Simple Yet Effective Life Hacks to Make Your Lifestyle More Active
    Simple Yet Effective Life Hacks to Make Your Lifestyle More Active

    Trending in Health

    1 10 Healthy Benefits of Green Tea and the Best Way to Drink It 2 Weighted Blanket for Anxiety and Insomnia: How to Make It Work 3 Can’t Sleep? How to Fall Asleep Faster And Sleep Better 4 Night Routine Guide to Sleeping Better and Waking Up Productive 5 11 Benefits of Drinking Lemon Water (And How to Drink It for Health)

    Read Next

    Advertising
    Advertising

    Explore the Full Life Framework

    Advertising
    Advertising