The Minister for Health James Reilly has set a new scheme to be launched for health insurance. This has something to do with the continuous decline in number of people who engaged in the health insurance market. The decline is significant that is why it drives them to design a new approach to prevent them from exiting in taking insurance that will certainly lead to the downfall of these companies. Not only that, the effect will also be great especially when these people will face problems that concern their health. Thus, to put a stop to this increasing rate of drop-off, companies are obliged to give discounts to those who aged between 20 and 25 years old and at the same time, lifetime community rating will also be introduced to persuade people to enrol themselves in health insurance earlier than what is expected.
New Tactics to Entice People to Get Insurance
This is the magnitude of the dropped out: In the year 2009 to 2012, from 310,000 people who subscribes to it , it significantly decreased to 230,000, that is around 80,000 people which gives a 25.81 percent fall-off. But what bothers these companies is not primarily the number of those who dropped out or the figure presented but the group of people who withdrawn from the insurance. It belongs to the younger sector of the community. With this new scheme, it is hoped that many will be interested again in registering themselves. The Department of Health is constantly making amendments in order to serve the needs of the patients. The result is not readily visible. The people will eventually see its importance when they are put into a situation where they will seek means to address their health needs. With the discounts given to young health insurance subscribers, penalties will be faced by those who subscribe to it later in life. However, the community rating that is proposed deals with disallowing insurance providers to incur different rates for different people which are based on their current health status. With the introduction of this new system, it is aspired that they can bring back the number of people who can see the benefit that it can give to their future situation.
The government sector commits in making this insurance more affordable yet competitive. With this vision, they are seeing that areas that need improvement will be addressed for the betterment of the service given to these patients.
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