HealthBridge’s Post

💰 Medical debt is a rising concern in the United States. A recent brief by the Health System Tracker highlights the staggering impact of medical debt on Americans, with millions facing financial strain due to unexpected healthcare costs. The burden is particularly heavy on lower-income households and those without adequate insurance coverage. I am committed to advocating for solutions that reduce this financial burden and ensure access to affordable healthcare. Addressing the root causes of medical debt is essential for creating a more equitable and sustainable healthcare system. 🔍 Explore the full brief below. 👉 How has medical debt impacted you or your organization? Join the conversation and share your thoughts below! #Healthcare #HealthRosetta #MedicalDebt #FinancialHealth #AffordableCare #PatientAdvocacy

More than 90% of Americans have some form of health care coverage, but people in the United States owe at least $220 billion in medical debt. In Kentucky, data reported by KFF found that, on average, 12% of Kentuckians report having medical debt. That's higher than the national average. #TAI #AllInAllInsured #HealthInsurance #MedicalCosts #Kentucky https://lnkd.in/eDJgT7BS

Another substantial study from KFF, this time on the burden of medical debt in the US. https://lnkd.in/ejyRTycu Here are some key takeaways: Among adults with fair or poor health status, about 41% have medical debt, while only about 17% of adults with excellent or good health status have medical debt. Similarly, among adults with a disability, around 43% have medical debt, whereas only about 19% of adults without a disability have medical debt. The data underscores the challenges faced by individuals with poorer health or disabilities in managing medical expenses, highlighting the need for targeted interventions and support mechanisms. These stats are why the Healia team is so passionate about our Total Care Option (TCO).  The TCO helps solve these problems by allowing employees to use their spouse’s policy as base coverage and our customer’s policy to cover their out-of-pocket costs. Employees can use the account to pay for out-of-pocket health costs or premium contributions on their spouse or partner’s plan, giving free healthcare to those who most need it. If you’re an employer or broker/consultant and want to learn more, message us on LinkedIn to schedule a demo! 👍 #employeebenefits #healthcarecosts #healthbenefits #healthinsurance #planselection #benefitdecisionsupport #totalcareoption

Medical debt burdens nearly 1 in 12 U.S. adults—affecting both peoples’ health and their overall financial wellbeing. The Peterson-KFF Health System Tracker helps decision makers understand trends in medical debt around the country to inform strategies that ease the burden. Read in Newsweek which states are impacted most by medical debt and how some are working to address it: #MedicalDebt #AffordableHealthcare

Did you know? Medical debt affects nearly a third of working adults in the US and is a leading cause of bankruptcies nationwide. 90% of people in the United States have health care coverage. But, despite having coverage, many are underinsured due to high deductibles. This is because: 👉 Surprise billing 👉 Price gouging 👉 High prices These high prices in the healthcare system lead to the US paying more than twice the amount per person for medical care compared to other wealthy countries. All is not lost! 💡No Surprise Act passed in 2020 - protection for out-of-network costs. 💡 Lower Costs, More Transparency - a bill passed by the U.S. House with bipartisan support At TPAC, we're all about tackling this issue head-on. We make sure our pricing is crystal clear and include Reference-Based Pricing (RBP) in every quote. For more information please contact us at www.tpac.com #medicaldebt #healthcare #selffunding #selfinsurance

this needs to change

The Power of Living Benefits Medical debt is a pressing issue that affects millions of Americans. According to a study conducted by the Kaiser Family Foundation, approximately one in four Americans struggle to pay their medical bills.² This problem is further exacerbated by the fact that medical costs are rising at an alarming rate, with the average cost of a hospital stay reaching over $15,000.³ As a result, many individuals find themselves drowning in medical debt, leading to financial stress and even bankruptcy. Statistics show that medical debt is a leading cause of bankruptcy in the United States. Read more here: https://lnkd.in/gTRnXVaX #LBAM #livingbenefits #lifeinsurance

The Power of Living Benefits Medical debt is a pressing issue that affects millions of Americans. According to a study conducted by the Kaiser Family Foundation, approximately one in four Americans struggle to pay their medical bills.² This problem is further exacerbated by the fact that medical costs are rising at an alarming rate, with the average cost of a hospital stay reaching over $15,000.³ As a result, many individuals find themselves drowning in medical debt, leading to financial stress and even bankruptcy. Statistics show that medical debt is a leading cause of bankruptcy in the United States. Read more here: https://lnkd.in/gi4dtJCb #LBAM #livingbenefits #lifeinsurance

🤔 Did you know that medical debt disproportionately affects people based on age, income, gender, health status, and geography? This resource from the Kaiser Family Foundation shows how the burden of medical debt varies by all these factors, and its impact has increased as deductibles have increased. The Biden administration announced their plan to eliminate the impact of medical debt on a person's credit score, which is a good first step, but it's treating a symptom rather than the cause. Medical debt is increasing due to increased deductibles, care avoidance, and a lack of access to accurate and easily understood price transparency. Employees are demanding more choice, and as a result, we're seeing an increase in employers offering traditional plans, and innovative plan designs that reduce out-of-pocket cost if employees utilize providers with a lower total cost of care. High deductible health plans aren't going away, but their promise of creating more informed consumers has yet to be realized because the employee hasn't had access to tools allowing them to make informed decisions. In the absence of tools, some consumers want the option to choose simpler-to-understand plans with lower out-of-pocket cost to avoid unexpected expense and the possibility of incurring medical debt.

💡 Did you know? Medical bills are responsible for a staggering 66% of bankruptcies in the US. This statistic highlights the crucial need for financial protection against unexpected health crises. Having Living Benefits in your insurance can make a world of difference. It means you can access a portion of your policy's death benefit while you're alive if diagnosed with a critical illness or medical condition. This financial lifeline can help cover medical bills, mortgage payments, or other expenses during a challenging time. Protect yourself and your loved ones. Explore the benefits of Living Benefits today! 🛡️💚 #InsuranceAwareness #FinancialSecurity #HealthcareCost