Major Medical Premiums are Predicted to Rise

The New York Times recently published an article (Link) that predicts that major medical insurance premiums will increase in future. In some states, it is predicted that major medical premiums will increase a staggering 50% above existing premiums. An increase of this magnitude could push major medical coverage out of reach for many Americans. Industry experts believe that this increase is not a question of “if” this will happen but “when” it will happen. An increase in major medical premiums this substantial has the potential to change the landscape of the industry completely.

The impact this will have on all Americans is undeniably tremendous and should not go ignored. Changes in major medical would cause a systemic change in level of coverage that we are able to afford. This would leave many people with less coverage, and others that simply cannot afford major medical coverage at all. This will also increase the burden upon tax payers and ultimately the general American economy as more people will turn to the already over burdened government programs like Medicare or Medicaid.

There is a way to protect yourself. You can protect yourself through supplemental insurance coverage. Supplemental insurance provides coverage that bridges the gap between the coverage that major medical provides and the amount you are left responsible for. As major medical coverage decreases, premium costs increase and the coverage benefits for a bigger gap, supplemental insurance is an affordable option to provide a financial safety net to cover the costs that major medical may not cover.

We offer two supplemental insurance products that can provide you with the gap coverage that you need. Accident and Sickness Protection and Critical Care Protector two policies that we provide that can provide the safety net to cover gaps in major medical costs. Qualification for thee policies are not based on your credit history. Both policies also pay you directly. Contact us today for a free consultation and evaluation of your current policies and coverage to determine if these policies could be right for you.