Mid-Missourians weigh in on new health insurance bill

1 year 8 months 1 week ago April 01, 2015 Apr 1, 2015 Wednesday, April 01 2015 Wednesday, April 01, 2015 1:04:00 PM CDT in News
By: Katie Moeller, KOMU 8 Reporter

COLUMBIA - The Missouri House of Representatives discussed the Fair Individual Health Pricing Act Wednesday.

The bill would require insurance providers to offer the same rates to private individuals that they do to people purchasing insurance through a group policy offered by their employer. 

Health insurance specialist Bryan Link said he's not sure how the bill could be put into action because group insurance policies aren't always the cheaper option. 

"The only reason sometimes larger groups or corporations save money sometimes is something called self-funding," Link said. "That means that the company finances its employees' health insurance claims, and if everyone has a relatively healthy year, then the company might save money."

Link said "self-funding" usually only starts to save money for companies that have at least 100 employees. 

Under the Affordable Health Care Act, companies with more than 50 employees must offer health insurance.  

"If we want to spread whatever benefit is received by large corporations when they "self-fund", as a country, we will just have to do away with employer-based plans, and move toward all-individual coverage," Link said. 

According to the Kaiser Family Foundation, the average cost of an employer based insurance premium per year in Missouri was about $5,400 in 2013. Employees in Missouri paid on average $1,000 of that cost per year, with their employers paying about $4,400.

The Kaiser Family Foundation said the average cost for an individual yearly health insurance premium was about $2,300 for Missourians in 2013.

Link said in the past 18 months, that price has gone up.

"Since the Affordable Health Care Act has taken more effect, I would say that number is more around $3,000 dollars a year for an individual yearly insurance premium," Link said. "That number has gone up because the ACA requires more comprehensive coverage and also doesn't allow denial on pre-existing conditions."

Link said it's important to remember that for many people, depending on household income, the net cost for insurance premiums is lower due to subsidies and tax credits. 

Columbia resident Leigh Ann French said despite those options, she doesn't have health insurance for a very simple reason.

"I just can't afford it," she said. "It's especially hard having a child. But I simply don't have enough money to buy it individually."

Peachtree Catering owner Ali Hamrah said he would like to see health insurance costs be less for small businesses and individuals. 

"I think it's great that self-employed people or people who own small companies should have the same access to the discounts that large groups get," he said. "But at the same time, I think it depends on what the large company is. I know owners of large companies who struggle to offer reasonable coverage to all their employees." 

The Fair Individual Health Pricing Act would also require insurance companies to make the costs of each coverage plan available to the public.

 

More News

Grid
List
COLUMBIA - Healthcare has not changed since the election and experts say there is no need for people to think... More >>
42 minutes ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 3:22:48 PM CST in News
COLUMBIA - The Columbia Police Department is investigating a string of five vehicle break-ins at three different fitness centers around... More >>
1 hour ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 2:45:00 PM CST in News
JEFFERSON CITY - Tobacco Free Missouri Youth (TFMY) gathered in the capitol Thursday to raise awareness for its campaign to... More >>
1 hour ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 2:16:00 PM CST in News
COLUMBIA - It’s the most wonderful time of the year, but for families living below the poverty line, the holiday... More >>
2 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 1:56:00 PM CST in News
COLUMBIA- As of Thursday morning, MU is advising all students who have not contracted the mumps to receive a third... More >>
2 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 1:39:00 PM CST in News
KANSAS CITY (AP) — An appeals court says a man serving a 260-year sentence in a Kansas child pornography case... More >>
4 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 11:54:49 AM CST in News
JEFFERSON CITY (AP) — Wealthy donors gave about $2 million to candidates on the final day of unlimited political giving... More >>
5 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 10:38:36 AM CST in News
ROACH, Mo. (AP) — Missouri authorities say a man was killed in central Missouri when an unoccupied pickup truck rolled... More >>
6 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 9:10:10 AM CST in News
FARMINGTON (AP) — An eastern Missouri man who was the former president of an investment company has been sentenced to... More >>
6 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 9:07:25 AM CST in News
ROBERTSVILLE (AP) — An eastern Missouri man is in custody after a package service driver noticed a message scrawled on... More >>
7 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 9:03:54 AM CST in News
COLUMBIA (AP) — The University of Missouri is urging students to obtain a booster mumps shot to protect against an... More >>
7 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 9:00:03 AM CST in News
RANDOLPH COUNTY - "NO Eminent Domain For Private Gain" is on a yard sign along rural Route NN a little... More >>
13 hours ago December 08, 2016 Dec 8, 2016 Thursday, December 08 2016 Thursday, December 08, 2016 2:07:00 AM CST in News
JEFFERSON CITY - The Missouri Department of Transportation reported Wednesday a rise in pedestrian deaths in Missouri. It said nearly... More >>
21 hours ago December 07, 2016 Dec 7, 2016 Wednesday, December 07 2016 Wednesday, December 07, 2016 6:57:00 PM CST in Top Stories
SPRINGFIELD (AP) — A southwest Missouri jury has convicted a 41-year-old Springfield man in the 2014 death of a 21-year-old... More >>
21 hours ago December 07, 2016 Dec 7, 2016 Wednesday, December 07 2016 Wednesday, December 07, 2016 6:55:33 PM CST in News
MILLER COUNTY - A woman died after a rollover crash early Wednesday morning on Route A. Missouri State Highway... More >>
21 hours ago December 07, 2016 Dec 7, 2016 Wednesday, December 07 2016 Wednesday, December 07, 2016 6:36:00 PM CST in News
JEFFERSON CITY (AP) — Missouri's Republican House Speaker Todd Richardson is calling for an investigation of the state Department of... More >>
22 hours ago December 07, 2016 Dec 7, 2016 Wednesday, December 07 2016 Wednesday, December 07, 2016 5:23:42 PM CST in News
JEFFERSON CITY - Local law enforcement officers will raise money for Special Olympics Missouri on Thursday night. Two local... More >>
22 hours ago December 07, 2016 Dec 7, 2016 Wednesday, December 07 2016 Wednesday, December 07, 2016 5:16:00 PM CST in News
COLUMBIA - Black women have many beauty products to pick through, but not all products are safe according to a... More >>
23 hours ago December 07, 2016 Dec 7, 2016 Wednesday, December 07 2016 Wednesday, December 07, 2016 4:47:00 PM CST in News
Columbia, MO
Broken Clouds 27°
4pm 26°
5pm 24°
6pm 23°
7pm 22°

Select a station to view its upcoming schedule:

Coming Up Next

4:00p
Jeopardy!
4:30p
Jeopardy!
5:00p
KOMU 8 News @ 5
4:00p
Cops Reloaded
4:30p
The Cleveland Show
5:00p
American Dad!

Tonight's Schedule

6:30p
Football Night in America
7:20p
Thursday Night Football
7:00p
DC's Legends of Tomorrow
8:00p
Supernatural
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld