20. February 2010 by Dan Walkow, CFA, CMT.

US health insurers across the country are dramatically increasing rates and slashing benefits for many of the estimated 17 million consumers with individual insurance policies, while making it almost impossible to obtain affordable alternatives.

The cost of health insurance has gone up as much as 39%,

“Millions of Americans are in the least secure marketplace . . . the one in which people have virtually no options,” Sebelius said. “Their only choice is to pay increases or drop the coverage.”

More daunting is the prospect of millions more workers being forced to buy individual policies as employers look to further slash or eliminate company-paid group health benefits.

The Canadian health care system with all its warts continues to serve Canadians well. Most Canadians have no idea of the pain and financial anguish many Americans face in regards to health-care.

Read more at the LA Times here.

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9. August 2009 by Dan Walkow, CFA, CMT.

Canadians often complain about the wait time to see a doctor or health care specialist. This is due to Canada’s universal healthcare system where all persons are entitled to care.

It would appear that the move to universal healthcare in the US by the Obama administration will bring more “Canadian like problems” to the US healthcare system.

Long wait times in Boston may be driven in part by the healthcare reform initiative that was put in place in Massachusetts in 2006. The initiative succeeded in covering many of the state’s uninsured patients. However, it has been reported that many patients in Massachusetts are encountering difficulty in accessing physicians. Survey results support these reports. Long appointment wait times in Boston also may signal what could happen nationally in the event that access to healthcare is expanded through healthcare reform. Increased demand resulting from improved access to care for approximately 47 million uninsured people can be expected to extend doctor appointment wait times in many markets.

See more at Carpe Diem here.

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4. June 2009 by Dan Walkow, CFA, CMT.

More than 75 percent of these bankrupt families had health insurance but still were overwhelmed by their medical debts, the team at Harvard Law School, Harvard Medical School and Ohio University reported in the American Journal of Medicine. Read full story.

Two thoughts here. Effective medical coverage is a tricky business. Everyone has a story about how they thought they were covered only to find out that once hit with a medical issue, the news that ” your policy does not cover that…”. Do not take your coverage for granted, if you are not sure have a professional review your policies and make sure you understand exactly what is covered and what is not.

Canada’s health-care system, with all its warts, serves Canadians well and you do not see the bankruptcy issues regarding health-care as an issue as it is in the USA.

Canadians moving or travelling in the USA should make sure that they choose “effective coverage” . Do not take anything for granted.

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