Why Medical Bills In The U.S. Are Out Of Control
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Published 2022-04-12
This is not a unique problem for the United States. Health-care spending is consistently rising around the world, however the U.S. is the worst performer when it comes to controlling costs. A lack of universal coverage in the U.S. and a fragmented and heavily commercialized system leads to rising costs and excessive spending.
One area with a hidden potential to hurt the pockets of Americans: ambulances. It’s an open secret in America that calling for an ambulance can be a financial gamble because of surprise bills. There’s no way for patients to know how much an ambulance will cost before they get inside the vehicle, and the final bill can be thousands of dollars.
Health insurance plans are another area that can have a negative impact on your wallet. Most Americans are bad at figuring out which health insurance plan will save them money. A study of almost 24,000 employees at a major Fortune 100 company found that 61% of them chose the wrong plan for their needs and estimated that the average employee could have saved $372 per year by choosing a different plan.
Watch this video to learn why medical bills are out of control and what you need to know to help limit those costs.
SEGMENTS:
00:00 - Why The U.S. Health-Care System Is So Bad At Controlling Costs (February 2022)
12:00 - Why Ambulances Cost So Much In The U.S. (July 2020)
27:46 - Why Most Americans Choose The Wrong Health Insurance Plan (February 2022)
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Why Medical Bills In The U.S. Are Out Of Control