What Does it Mean to be Uninsured?
One of the great ironies of the Affordable Care Act is that while it is true that more people in our society are insured, more and more people are underinsured.
What does it mean to be underinsured? It means that increasingly health insurance does not adequately cover health care expenditures and people are being forced to assume more and more of their health care costs.
And who are the underinsured? The underinsured include those that are insured but do not have good coverage and/or those insured with high deductibles and/or those seniors who have Medicare Part D but eventually fall into the doughnut hole (that is, have to pay for all medications themselves). An example: consider a person who qualifies and has had their insurance paid for by the Affordable Care Act. Those individuals still have a high deductible (which many cannot afford).
The growing numbers of the underinsured are not limited to those covered by the Affordable Care Act. For me and for the employees of my allergy practice, we have a good health plan with a high deductible. I pay $600/month for my premium yet that only takes me to the doorstep of a $2,500 deductible. In our plan, my co-pay to a doctor’s office is $25. However, for medications prescribed to me, I have to pay a variable amount and this could be significant on any given medicine.
As the majority of Americans, therefore, need help in affording their healthcare, Milligram and its medication price transparency engine helps people afford medications they need.