“…health care costs take up a larger share of household budgets. The article adds that national health care spending reached $4.1 trillion in 2020 and is expected to grow by an annual average of 5.4% between 2019 and 2028, according to the Centers for Medicare and Medicaid (CMS).
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Dallas Health Insurance costs continue to rise despite the Affordable Care Act being passed 12 years ago last March. According to a Commonwealth Fund report, health insurance premiums and deductibles for Americans with employer-sponsored coverage accounted for 11.6% of median income in 2020. While that may not seem like much, the ratio doubles in pointing out that this number is a whopping 9.1% increase since the introduction of the ACA in 2010. Put simply, this means health care costs are consuming a greater portion of typical household budgets for these families. .
More information can be found at https://insurance4dallas.com/health-insurance-dallas/
A report from Yahoo! Finance confirmed in January that these costs accounted for 10% or more of revenue. This includes individuals and families with health insurance in Dallas. “The results are a stark reminder of what we already know – that health care costs are rising faster than the incomes of working families,” said Sara Collins, vice president for coverage and access to care. Commonwealth Fund, Yahoo Finance, “which means health care costs are taking up an increasingly large share of household budgets. The article adds that national health spending has reached $4.1 trillion. dollars in 2020 and are expected to grow by an annual average of 5.4% between 2019 and 2028, according to the Centers for Medicare and Medicaid (CMS).
Rick Thornton, a Health insurance agent in Dallas , echoed Yahoo Finance! article saying that the Affordable Care Act requires insurers to prove they spend at least 80-85% of premium dollars on medical care. In doing so, insurers have an incentive to increase costs. Essentially, premiums go up because the cost of care goes up. Thornton added that time will tell how this will continue to impact the millions of Americans who need quality health insurance they can afford.
Insurance4Dallas, (I4D), helps insure all of Texas, Oklahoma, Arkansas, Arizona, Louisiana, New Mexico, Alabama, Virginia and Florida. Insurance4Dallas provides consumers with detailed health insurance information with the ability to purchase health insurance online. Insurance4Dallas offers a comprehensive line of health, dental, vision, life and incidental insurance products, offering a diverse selection of price and benefit options complemented by personalized customer service. Available by phone, email or fax, Insurance4Dallas answers consumer questions throughout the buying process and when using its health insurance policies.
Contact information:
Name: Rick Thornton
E-mail: Send an email
Organization: Insurance4Dallas
Address: 4516 Lovers Lane Suite 316, Dallas, TX 75225, USA
Phone: +1-972-219-6004
Website: https://insurance4dallas.com/health-insurance-companies-in-texas/
Build ID: 89065506
COMTEX_403601246/2773/2022-03-06T08:44:29
