Uninsurance

In 2010, about ten million citizens in America have lived without any insurance for a whole year. In other developing nations where surviving the day is more important than ensuring for what the possible things to happen, it would be difficult to compute. Cambodia has reported that more than half of their citizens do not even know what health insurance is. Jakarta, Indonesia is reported to have sold more car insurances in the past years than health ones.

For many of these people, the consequences of living day to day are in dire disadvantages.

According to the studies submitted to Axis Capital and distributed to its insurance and reinsurance companies from its main location in Bermuda to Singapore, Australia, United Kingdom and to over ten states around the United States of America, more and more citizens had dropped their policies. More than four million adolescents are medically uninsured. Their age estimate would be between 10-18 years old. In reviews, partners do not think it would be needed while their kids are young. Uninsured rates are higher among the poor and near poor, racial and ethnical minority and noncitizens than among young adults with obvious reasons. Others think they have existing insurance but turned out to be engaged in a scam instead.

Having health insurance does not ensure adolescents’ access to affordable, high-quality services given problems associated with high out-of-pocket cost-sharing requirements, limitations in benefit packages, and low provider reimbursement levels. For example, the current system for financing health insurance coverage leads to underinvestment in disease prevention and treatment in some areas that are particularly problematic for adolescents.

The following are the possible consequences for not taking any insurance:

1. Reduced Access to Timely and Quality Care

• Uninsured adults and children are less likely to receive preventive care, including regular checkups, diagnostic screenings and tests and prenatal care for pregnant women.

• Uninsured children are less likely than insured children to receive medical attention for common childhood illnesses or injuries.

• Uninsured persons are less likely to have a regular source of care and more likely to seek care in clinic or emergency room, compared to the insured.

2. Premature Mortality

• Uninsured individuals are often sicker than insured patients when seeking care.

• Life-threatening diseases are more likely to be diagnosed in late stages for uninsured patients, reducing the likelihood of full recovery.

• Newborns of uninsured mothers have a greater risk of adverse health outcomes at birth, including death.

3. Personal & Family Financial Strain

• Without coverage, uninsured patients often face significantly higher charges for care than the insured.

• High rates of personal bankruptcy result from lack of insurance coverage for significant medical expenses.

• Uninsured employees are more likely to experience greater annual income losses, reduced labor force participation and diminished job productivity due to untreated illnesses and conditions.
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