According to the Center for Disease Control (CDC), about 27 million Americans – 8% of the US population – do not have health insurance coverage. Hispanics have the highest uninsured rate among ethnic groups, at about 18% uninsured.
Among states in the U.S., Texas has the highest rate of uninsured residents, at almost 18%, while Massachusetts has the lowest percentage, at under 3%. In Nevada, about 14% of residents have no health care insurance.
Because of cuts in the Affordable Care Act (ACA) and Medicaid, it is projected that up to 15 million additional people will go without health care coverage over the next 10 years. According to projections from the Congressional Budget Office (CBO), by 2028 there will be over 35 million uninsured Americans.
Even for lower income residents that have insurance, gaps in coverage, large deductibles, and co pay obligations can result in inadequate coverage in relation to financial means.
There are some key trends that will impact health care insurance and coverage for Americans.
- New legislation is resulting in the phasing out of ACA subsidized insurance premiums. This will require the people and families that participated in ACA plans to face higher insurance premiums.
- Overall, health insurance premiums are rising greater than overall inflation, along with deductible amounts.
- Use of AI will result in more active coding and billing, which could drive up reimbursements and overall costs.
- Providers and Insurers are increasingly hardening their negotiations related to claims and payments, which impacts health insurance costs and options.
- The healthcare provider market is becoming more consolidated, which can limit competition and patient options
For businesses in the health care industry, whether providers or supporting entities, it is critical to understand how new business trends, technology, and legislation will impact the health care landscape. Specifically, business leaders need to understand how the increase in uninsured people will impact their enterprise.
