Desperately Seeking Tennessee Health Insurance? - NASDAQ ...

Multiple studies have shown that fewer workers are now covered by employer-provided Tennessee health insurance coverage.? During the past decade, about 354,000 Tennesseans?lost that work benefit.? Even employees who can still get health insurance through work are paying higher premiums and have greater out-of-pocket costs.? ?

The situation in Tennessee is indicative of the national trend as U.S. of employers have been dropping health coverage for workers for many years. ?The majority of those losing group TN health insurance plans made around $22,050 for a family of four. That means they fell below the poverty guidelines. ? For nearly 60 years, employment had been a standard way for families to get health care coverage. ?With this option fading away, Tennessee?s uninsured rate spiked from 9.9 percent in 1999 to 17.1 percent by 2009. ??

Even those workers who continue to get health insurance on the job face higher out-of-pocket costs than ever. ?According to Philip Johnson, a partner at the Memphis-based Argyle Benefits Consultants, companies are increasing worker health care contributions even while salaries are staying the same or decreasing. ?That means out-of-pocket charges are getting a bigger share of workers? incomes and absorbing more of the family budget each year.?

The Affordable Care Act will require employers with 50 or more workers to offer health coverage or pay a penalty per employee in 2014. ?At that time, employees will also be able to buy Tennessee health insurance plans through the TN health insurance exchange. ?This is expected to bring down the average cost of insurance by increasing the competition between insurance providers.??

Can Group TN Health Insurance Be Replaced??

Until 2014, both small businesses and individuals are turning to polices with high deductibles to keep the cost of premiums low? . ?The amount of the deductible and the type of managed care (like HMO or PPO) can make a big difference in monthly premiums. ??

Now that regular preventive care services are exempt from both co-pays and deductibles, plans with high deductibles are less likely to discourage people from getting an annual check-up, screenings for major diseases like cancer and high blood pressure or flu shots.??

Some of the high-deductible Tennessee health insurance plans go a step further. ?Health Savings Account (HSA) Plans let you to start a special type of savings account. ?These Health Savings Accounts can be utilized to invest in simple interest-bearing accounts, bonds, mutual funds or stocks. ?Regardless of the type of investment, HSA money grows with tax-free earnings and the balance rolls over from year to year .??

HSA dollars can be used to cover your health care or that of your family. ?Alternatively, HSA money can be left invested until retirement to double as a retirement account. ?Health Savings Accounts may be the best alternative to keep premiums low until the TN health insurance exchange is available. ?With the growing popularity of these plans, Health Savings Accounts may even be competitive with coverage available through the state exchange.

Both comments and pings are currently closed.

Source: http://nasdaqtradingnews.com/2012/02/18/desperately-seeking-tennessee-health-insurance/

danny gokey sonny rollins sweet caroline lottery winning numbers pro bowl roster