With the recent changes in the political landscape, many individuals are expecting significant changes in the health industry. This may ultimately occur, but remember our political system does not allow quick and dramatic changes. Thus, for the time being, we will have to continue to play the cards we have been dealt.

It is estimated that there are over 45 million uninsured Americans; the fact is, more than 70% of uninsured Americans are from families with one or more full-time workers who have the ability to pay for healthcare coverage.  In an attempt to make health care more affordable, the state's Consumer Choice Health Benefits Plan law was enacted in 2003.  This law allows health carriers in Texas to offer plans that limit certain health benefits in order to lower the cost of the plan’s premium.  For instance, excluding mental health benefits can reduce premiums by up to 10% in some instances.  Carriers must however, still offer plans that provide full coverage. This flexibility can be especially helpful to individuals and small employers by giving them the option to choose a plan that best fits their needs.

Research has shown that people with adequate healthcare coverage are healthier than the uninsured and that having healthcare coverage can also be a good financial investment. Besides protection from the expense of catastrophic illness, healthcare coverage provides everyday financial advantages.  As an example, hospital bills and fees for medical services can be two to four times higher for the uninsured. With healthcare coverage you get the benefit of the carrier’s negotiated (discounted) rates.

Consumer Choice Health options along with High Deductible Health Plans (HDHP) that allow you to open a tax advantaged Health Saving Account (HSA) are part of the new trend in Consumer Driven Health care options. The goal is to get the client involved in controlling health coverage costs.  A licensed Health Insurance agent can guide you through the maze of options. And remember, the most significant issue with individual health coverage is that you are subject to underwriting which means that you have to be generally healthy to get coverage. The lesson here is – don’t wait until you have to have it because you may not be able to get it!