What does the upcoming health insurance marketplace have in store for consumers? The entire thing is a complete mystery, which begs the question: what is the future of the health insurance market?
Before the creation of the health insurance marketplace, there was no market place at all. There were no policies, and not even doctors cared about selling the individual plan. All of this was non-existent before the health care reform bill was passed.
Now, the government has created regulations, and these new federal rules require insurance companies to compete and offer the best deals. But how does one buy a policy when there are literally hundreds of different plans offered by different insurance companies?
To get around the lack of competition, many insurance companies created their own plans to sell to individuals, and this has led to many Americans having to pay far more than what a health insurance plan would have cost them if they could simply go to a single place where they could get a plan from all of the major players. This has led to some consumers having to pay more than what the average insurance policy will cost them.
Consumers also are forced to pay more because the majority of these plans do not provide coverage. Consumers cannot shop around and find the best policy that suits their needs.
The future of the health insurance marketplace is one where the consumer has more options to choose from. The idea of multiple options has been proven to have worked when it comes to saving people money. Consumers must now have the ability to shop around and find the best deal for them, even if they do not find the best deal.
Consumers will need to be willing to buy the most affordable plan possible, or they will not have the options to find the best deal on the health insurance marketplace. The future of the health insurance marketplace is still unknown, but the good news is that consumers have to decide whether or not they want to stay with the status quo.