Healthcare Insurance Coverage Demand Raising - 2017 PREDICTIONS

With the new President Donald J. Trump, elect over the first 100 days in office in 2017 it will impact the future direction of Healthcare industry. The republications are laying the groundwork before he is sworn  and planning a rapid repeal of Presidents Obama’s signature healthcare law beginning on the first day of congress in 2017. Laying the ground work for when President Donald J. Trump is sworn in. Below are some thoughts for consideration.

The American Hospital Association recently provided researched on increasing need for healthcare Insurance Coverage for USA market. Findings are:

•  In fiscal year 2016, the Medicaid enrollment growth rate is expected to slow across all states, and the variation in enrollment growth between expansion and non-expansion states is expected to narrow. Slower overall growth in Medicaid enrollment in FY 2016 is anticipated because of three main factors. First, enrollment growth among those newly eligible under the ACA Medicaid expansion is moderating, after the initial surge in 2014 or 2015. Second, an improving economy has contributed to less demand for Medicaid. Third, in some states, slowing enrollment is tied to the timing of annual renewals.
•  The looming “Cadillac tax” accelerates cost-shifting — and the ACA’s insurance excise tax set to begin in 2020 is already influencing employers’ benefit design. To avoid paying the 40 percent tax on health plan premiums (over $10,200 for individual coverage and $27,500 for self and spouse or family coverage) employers are upping the amount that employees must pay, thereby reducing their costs. 
•  More than 80 percent of ACA individual enrollees receive some type of subsidy or tax credit, which mitigate large rate increases.
•  Among people with health insurance, one in five (20 percent) working-age Americans report having had problems paying medical bills in the past year that often cause serious financial challenges and changes in employment and lifestyle. Among the insured with medical bill problems, 63 percent report using up most or all their savings and 42 percent took on an extra job or worked more hours. People with health insurance who have had problems with medical bills also reported skipping or putting off other health care in the past year because of the cost, such as postponing dental care (62 percent), skipping doctor-recommended tests or treatments (43 percent), or not filling a prescription (41 percent).

 Perhaps an even bigger driver of change is the private health exchanges. The number of workers participating in private exchanges is expected to grow from the current 6 million to 40 million by 2018.

It will be interesting to see what will after the president elections the impact on healthcare. Will the consumer cost be reduced and will healthcare be better value for the dollar?

Thank you for reading my blog and “Moving Healthcare Forward". For more information refer to www.michael-sandnes.com.