Americans Continue to be Concerned about Rising Health Premiums

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Currently, a significant majority of Americans are worried about the increasing health insurance premium. A recent survey conducted by Gallup states that around 61% of adult Americans are worried about the fact that their selected health insurance plan will become heavy for their pockets. This means that they may have to shell out a lot of money in order to pay higher premiums. Gallup’s annual healthcare poll took place from November 1st to November 11th.

Towards the end of 2017, a GOP tax plan was passed which had a provision that cancelled the person’s mandate portion of Obamacare, which imposed a tax fine on individuals who didn’t have health insurance. However, the abolishment will take place sometime in 2019. But the bad news is that many people who shell out money for their own coverage anticipate their premium rates going up.

According to the poll, only 42% of the people thought that it was a big problem that they or an individual from their family would be denied coverage due to the fact that they have a pre-existent medical problem. However, 57% of the people who took the poll claim that it is not a big issue for them. Several Republicans who wanted to abolish Obamacare are now supporting a part of the law that safeguards individuals with pre-existing medical conditions.

Ultimately, the poll discovered that 46% of the individuals are worried they won’t have sufficient money to pay for their health care. This was the biggest issue for people who fall into the category of the lowest income bracket earning less than $30,000 a year. 70% of them are expressing their concern about high premiums.

Moreover, people who fall into the category of the age group 50-64, have expressed a bigger concern about paying higher premiums as compared to other age groups. But, rising premiums is also a big concern for people in higher income brackets.