Your Blood Pressure Isn’t the Only Thing Going Up
Gasoline and groceries aren’t the only things in your life hit by inflation. Medical inflation may be less visible but the impact on insurance rates can be significant. The result is an increase in healthcare costs, which ends up being paid for in large part by higher premiums from health insurance customers.
Medical Inflation is caused by people living longer lives and needing more healthcare. These funds finance the high cost of new technologies, drugs, and procedures that become available every day. And while you may not be a medical researcher, device manufacturer or giant pharmaceutical company, you can do your part to keep medical inflation down:
- Work closely with your HR department to make changes to the benefits structure if needed. It helps to know what you’re doing or have a broker you trust.
- Balance public and private service use if you operate in a country that offers public health services to its citizens. Less life-threatening issues or minor chronic conditions may be handled by the public health system without a need to use the more costly private plan.
- Find alternatives to using your medical insurance plan by staying healthy with regular exercise and a healthy diet.
To find out more about medical inflation and how a good health insurance broker can help you minimize its effect on your health insurance premiums, contact us: [email protected]