With all the changes in health insurance, everyone seems to be talking only about monthly premiums. But what about access to your favorite doctors who may not be in your plan’s network anymore?
You may be seeing a lot of ads on Proposition 45, which has to do with how rates are regulated (see my most recent blog with my position on the matter). Everyone seems to be crying “lower premiums,” but no one seems to think about what effect that will have on the rest of the picture.
One of the biggest unintended consequences created by the Affordable Care Act (aka ObamaCare) is that doctor networks are shrinking.
Although we may not like it, health insurance companies are businesses too (just like your ISP, CPA, HBO or DDS). They calculate how their business will survive next year. They review rates, benefits, drug plans and networks. Large doctor networks and rich benefits cost money.
Enter the new world order, the Affordable Care Act. It’s great that anyone can have health insurance regardless of pre-existing conditions, but it creates a lot of cost and financial risk for insurance companies. Again, we may not like it, but it is what it is.
Rates will continue to go up. To offset costs, the insurance companies are shrinking benefits and doctor networks. It’s the new normal. Gone are the days that you could have a low monthly premium and any doctor you wish.
Now you have to make a choice . . . are you looking for affordability OR a wide range of choices? That’s making it very black and white, and of course there are individual exceptions. But when thinking about your choices for 2015, don’t just look at the numbers. Look at the whole picture.
What do you think? What will be your priority for 2015—access to doctors or an affordable plan?
2 comments
Thank you for this very informative post! Really clears up the picture of what’s happneing.
Thank you for this very informative post! Really clears up the picture of what’s happneing.