Healthcare reform has long been an issue in the United States. In March 2010, one of the biggest steps toward overhauling the healthcare system was the passage of the Affordable Care Act, which changes certain aspects of the health insurance industry by increasing coverage, expanding access and eventually requiring that individuals who are uninsured obtain a plan.
While certain portions of the law have already gone into effect, the individual mandate won't become effective until 2014. As a result of this, individuals who can't afford a private plan - or who are unable to obtain coverage for some other reason - will be able to through a health benefits package provided by the government. However, there has been much debate about how the plan should be constructed and what it should include. How Bankers Life And Casualty Company Can Help
Bankers Life and Casualty Company provides a variety of affordable, quality insurance plans aimed at individuals who are preparing themselves for retirement. These products include long-term care, Medicare supplementation, annuities and life insurance.
At the request of the U.S. Department of Health and Human Services, the Institute of Medicine put together a list of recommendations for beneficiaries of the government-funded plan.
"This report offers guidance for developing a package of essential health benefits that will achieve two equally important goals: to provide coverage for a range of Americans' health needs and to ensure the affordability of coverage, particularly for small employers and individuals who must buy their own insurance," said John Ball, former executive vice president of the American Society for Clinical Pathology. Ball served as the chairman of the committee that issued the report.
The report details a number of suggestions the Institute of Medicine believes should be part of a health benefits package. For instance, the Affordable Care Act indicates that a plan should be similar in scope to the benefits offered under a typical employer plan.
To determine this, the IOM says HHS should establish a set of criteria to measure them up against, including medical effectiveness, safety, relative value compared with alternative health insurance options and whether the benefits protect individuals who are most vulnerable to illness.
The report further states that with the passage of time, HHS will need to change what's included in the package to keep up with advancing technologies and changes in the patient population.
"As research yields more knowledge, the list of essential health benefits can become more detailed and promote greater value over time," the report states. In order to obtain the best advice on how to update the benefits package, IOM says HHS officials should seek public input as much as possible.
In addition, IOM says a cost-cutting strategy must be implemented that will make health insurance more affordable. Since 1990, healthcare costs have grown faster than the gross domestic product, which may cause some concern among retirees and pre-retirees, including some Bankers Life and Casualty Company clients.
Finally, the report says HHS should make the health benefits package flexible, where states can be given alternatives to the federal mandate if they don't vary significantly from the federal package. Further, it should provide policyholders with a variety of provider networks, premium costs and deductibles.
