February 12, 2016

Millennials Changing Healthcare, Issues with HDHPs and more in CarePayment’s News You Can Use

By CarePayment

Millennials Changing Healthcare millennials changing healthcare carepayment

USA Today illustrates how millennials will be changing the healthcare industry; specifically, in the way healthcare services are delivered, how doctors and physicians will communicate with patients, and price transparency becoming a necessity. Millennials are cost-conscious and are more likely than other generations to ask for discounts on healthcare. They also are more likely to search for cheaper alternative options as well as switch doctors frequently if it saves them money.

The Big Problem with High Healthcare Deductibles

High deductible health plans are causing some concerns within the healthcare industry. These high deductibles were intended to shape Americans into savvy healthcare consumers in order to reduce healthcare spending. Though, according to The New York Times, this is not the case. Majority of these high deductible plans include a $1,000 deductible; the most popular plans on the ACA have even higher deductibles. While these deductibles have reduced healthcare spending, it is not due to Americans shopping for care, they simply are avoiding necessary care all together; a serious concern for long-term health.

Uninsured Present Tough Test for Affordable Care Act

Nearly 30 million people remain uninsured as the first open enrollment period of the year came to an end. The Hill shares how the administration now faces the challenge to get these uninsured residents enrolled into coverage. Half of the 30 million people uninsured are eligible for coverage, but chose not to sign up, nearly 10 percent are ineligible due to their state not expanding Medicaid while the remaining 15 percent are ineligible because of their immigration status.