Having Health Insurance Not Enough
Many people who have health insurance may think they don't have to worry about paying for medical bills but, according to an article in the current issue of Consumer Reports, that's simply not true.
An exclusive nationwide survey by the magazine of working-age adults found three out of 10 Americans who have health insurance don't have adequate coverage. They are underinsured. And some 16 percent of those who responded said they don't have health insurance at all.
Consumer Reports Editor Kim Kleman discussed the situation on The Early Show Friday with co-anchor Harry Smith.
The underinsured said they can't afford health care, so, "They're not much better off than people without insurance at all," Kleman told Smith.
"Insurance companies," Kleman observed, "which are the middle men in this whole formula, cannot or will not reduce costs for medical care. And so, those costs are passed on to employers and consumers. Insurance companies are still making their comfortable profit. But employers and consumers have to make up the difference."
"Employers are trying to keep the same percentage of total premium," she continued. "They're trying to make sure they cover something. But because costs overall are increasing, employees … are having to pay more money, even though the share of what they're paying toward their premium is about the same. And, you know, benefits are getting skimpier. And co-pays and deductibles are increasing. So, this is a huge problem for a lot of people."
Kleman offered tips for getting the most out of your health coverage:
"It could bankrupt you," Smith pointed out.
"Absolutely," Kleman agreed.
For more on health and fitness from Consumer Reports, click here.