Health insurers sail through the flux in healthcare

The Affordable Care Act, and with it the American health-care industry, has been a hot topic for years, but it’s been especially superheated since President Trump and the Republican Party stormed the government claiming a mandate to “repeal and replace” that law. There were numerous cited pain points: A clumsy rollout of the online exchanges in 2013, escalating premiums and deductibles as insurance companies found the high-risk pools difficult to manage, and eventually entire markets losing coverage options.

Despite all that, however, insurance companies were able to avoid association with many of the setbacks. The Harris Poll, which tracks brand equity, says that health insurance “is on a slow incline” over the past five years. In fact, while the insurance sector overall experienced a recent jump in equity this past year, health insurers hold three of the top five spots in the industry, Harris reports. The American Customer Satisfaction Index also found a 4.3% increase in satisfaction with health insurance companies from 2015 to 2016, second-best in financial services to banks.

As costs have risen this decade, consumers largely found other targets for their ire. More than 70% of Democrats in a Politico-Harvard poll last year identified pharmaceutical companies as the leading driver of increased health care costs, while more than 60% of Republicans blamed the federal government. That’s a big switch from another Harris poll in 2008, which found insurers three times as likely to be blamed for rising health care costs as either of those institutions. Stories of insurance companies denying customers certain treatments due to pre-existing conditions or other esoteric policy language were popular in the media.

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By | 2017-06-30T07:44:49+00:00 June 30th, 2017|Categories: News|Tags: , |0 Comments

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