🇪🇺 🏥💰 🚨 MORE EUROPEAN HOUSEHOLDS FALLING INTO POVERTY FROM HEALTH SPENDING
According to a new study on Healthcare spending's effects on European households show a worrying increase in "catastrophic health spending", forcing more European households into poverty.
Based on pre-pandemic data from 40 European countries in 2019, the study found that only 23 of 40 European nations could meet the healthcare needs of over 99% of their populations.
The report also found that the poorest individuals are more likely to experience severe economic hardship due to Healthcare expenses.
According to the report, 60 percent of catastrophic health spending in the poorest 20 percent of households can be attributed to spending on medicines, on average across the European Union.
"Our report shows that already before the pandemic, people were facing an unacceptable level of catastrophic health spending," Hans Kluge, WHO regional director for Europe, said in a press release.
The World Health Organization also noted that over half of Humanity, approximately 4.5 billion people, lack access to essential medical services.
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Watchdogs Attack Medicare Benefit For Refusing Care, Overcharged
Watchdogs Attack Medicare Benefit For Refusing Care, Overcharged
By Fred Schulte, Kaiser Health News
Wednesday, June 29, 2022 (Kaiser News) — Congress must crack down on Medicare Advantage senior health plans that sometimes deny patients essential medical care while charging the government billions of dollars annually, government watchdogs told a House panel on Tuesday.
Witnesses sharply criticized the burgeoning health plans during a hearing held by the…
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Navigating Healthcare Costs: Exploring Solutions with Qualify Health
In today's world, navigating the complex landscape of healthcare costs can often feel like a daunting task. From insurance premiums and deductibles to out-of-pocket expenses, the financial burden of healthcare can take a significant toll on individuals and families alike. However, amidst these challenges, there are solutions to be found, and Qualify Health is here to help explore them.
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How Group Insurance Can Help You Save Money on Healthcare Costs?
Group insurance can be a powerful tool to save money on healthcare costs for individuals, families, and businesses. By leveraging the benefits of group insurance plans, participants can access more affordable healthcare options and enjoy cost savings in various ways. In this article, we will explore how group insurance can help you save money on healthcare costs.
Lower Premiums: One of the primary ways group insurance helps save money is by offering lower premiums compared to individual insurance plans. Group insurance spreads the risk across a larger pool of participants, which allows insurers to negotiate better rates. As a result, individuals and businesses pay reduced premiums, making healthcare coverage more affordable.
Employer Contributions: Many group insurance plans are sponsored by employers who contribute a portion of the premiums. Employer contributions can significantly reduce the financial burden on employees, making it easier for them to afford comprehensive healthcare coverage.
Reduced Out-of-Pocket Expenses: Group insurance plans often include provisions that reduce out-of-pocket expenses for participants. This can be achieved through lower deductibles, copayments, and coinsurance rates, making healthcare services more accessible and affordable.
Comprehensive Coverage: Group insurance plans typically offer comprehensive coverage, including medical, dental, and vision services. By having all these services bundled into one plan, individuals and families can avoid purchasing separate policies, leading to potential cost savings.
Negotiated Rates with Healthcare Providers: Insurance companies negotiate rates with a network of healthcare providers in group insurance plans. Participants who use in-network providers can benefit from these negotiated rates, resulting in lower costs for medical services.
Preventive Care and Wellness Programs: Many group insurance plans emphasize preventive care and wellness programs. By focusing on early detection and disease prevention, participants can avoid more costly treatments in the future, leading to overall cost savings in healthcare spending.
Prescription Drug Discounts: Group insurance plans often include prescription drug coverage with negotiated discounts on medication costs. This helps participants save money on essential medications and chronic disease management.
Access to Telehealth Services: Group insurance plans may offer access to telehealth services, which allow participants to consult with medical professionals remotely. Telehealth visits are often more cost-effective than in-person consultations, leading to potential savings.
Improved Health Outcomes: By providing access to regular healthcare services and preventive care, group insurance plans can lead to improved health outcomes for participants. Better health can result in reduced medical expenses over time.
Cost Sharing among Employees: In some cases, employers with group insurance plans may choose to implement cost-sharing arrangements where employees contribute to the premiums. This distribution of costs can still result in significant savings compared to individual insurance options.
Financial Protection: Group insurance plans offer financial protection in case of unexpected medical emergencies or major health events. Participants are less likely to face financial ruin due to high medical bills, contributing to long-term cost savings.
Tax Savings: In many countries, premiums paid for group insurance coverage are tax-deductible for businesses. This tax benefit can provide additional savings for businesses offering group insurance plans to their employees.
In conclusion, group insurance can be a valuable tool for saving money on healthcare costs for individuals, families, and businesses. The cost-effectiveness of group insurance is driven by lower premiums, employer contributions, and negotiated rates with healthcare providers.
Comprehensive coverage, preventive care, and wellness programs can further lead to reduced healthcare expenses. Access to telehealth services and prescription drug discounts provide additional cost-saving opportunities.
By promoting better health outcomes and offering financial protection, group insurance plans help individuals and businesses save money while ensuring access to essential healthcare services. For individuals and employers looking to manage healthcare costs effectively, group insurance is a smart and beneficial option.
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Explore how to reduce healthcare costs with innovative techniques and strategies designed for risk-bearing entities. Dive into the world of value-based care and discover the tools to optimize patient outcomes while lowering costs in healthcare. Don't miss this opportunity to stand out in the competitive market!
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Demystifying Healthcare Costs: A Call to Action for Affordable and Accessible Care
Introduction:Welcome to my blog post, where I, as a family medicine physician, discuss the concerning issue of high healthcare costs in the United States. Patients, particularly in the Gen-Z and the more elderly population, face significant financial burdens when unexpected medical expenses arise. In this article, I will explore the factors contributing to the high cost of healthcare and present…
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Protected Lifetime Income Study
Protected Lifetime Income Study
Disclaimer: I am an Education Fellow at the Alliance For Lifetime Income.
It’s a groundbreaking piece of research, really. It’s clear that people want a protected lifetime income, are they getting the information and advice they need to create this?
The stability of income gives them the license to spend, the license to take risks, and the license to wait out…
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