Article Abstract:
Insurance companies, insurance brokers and employers should all work together to help workers learn to become responsible consumers when evaluating health care plans. Most employees believe that they have a right to health insurance, but they must change this attitude if managed care is to succeed in controlling health care costs. Employee benefits plans should be designed so that workers have a choice of health plans. Deductibles, contribution strategies, out-of-pocket maximums and coinsurance should be taken into consideration by insurers.
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Article Abstract:
Ninety-two life/health insurance companies retired in 1991 due to insolvency, voluntary dissolution, merger or re-domestication, and 32 companies entered the field. Failure to retain a distinct marketplace niche or competitive advantage caused 37 companies to withdraw or voluntarily dissolve. In addition, many companies merged with parents or unaffiliated firms, and re-domestications increased from 13 in 1990 to 16 in 1991. Ten of the 32 start-ups were domiciled in Arizona due to low initial capital requirements and a lenient tax structure.
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Article Abstract:
Insurers should take responsibility for helping to control health care costs. Health care systems will fail unless they preserve insurance principles and focus on individual responsibility in the maintenance of health. The guidelines to follow when establishing an effective health care system include creating broadly defined qualified plans, using federal taxes to encourage individuals to buy private health insurance and creating an Individual Health Account funding alternative.
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