Mid-Missourians weigh in on new health insurance bill

1 year 9 months 2 weeks 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
Embed Code Copied

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
PHELPS COUNTY - Deputies were dispatched to the intersection of County Road 3000 and County Road 3220 Tuesday around noon... More >>
3 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 10:44:00 PM CST in News
COLUMBIA - A bill sponsored by U.S. Senator Claire McCaskill (D-Missouri) that hopes to cut government waste and increase accountability... More >>
3 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 10:18:00 PM CST in News
JEFFERSON CITY – Governor Eric Greitens gave his first State of the State address Tuesday, just eight days after his... More >>
6 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 7:33:00 PM CST in News
Columbia – The Mayor's Task Force on Medical Tourism met Tuesday to discuss possible recommendations to the Columbia City Council.... More >>
7 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 6:52:00 PM CST in News
COLUMBIA – Concerned community members gathered at Republican U.S. Representative Vicky Hartzler’s office Tuesday to protest a recent development in... More >>
12 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:58:00 PM CST in News
COLUMBIA – Higher education institutions have concern over the impact of Governor Greitens' announced budget cuts that will largely decrease... More >>
12 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:41:00 PM CST in Continuous News
JEFFERSON CITY - Rep. Kip Kendrick, D-Columbia, filed two bills on Tuesday addressing the rise of student debt. The... More >>
12 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:35:00 PM CST in News
CARTHAGE (AP) — Authorities say a 10-year-old girl has died in a southwest Missouri shooting that appears to be accidental.... More >>
14 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 12:01:13 PM CST in News
JEFFERSON CITY (AP) — New Missouri Gov. Eric Greitens will outline his policies on jobs, ethics, public safety and education... More >>
14 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 11:14:00 AM CST in News
ST. LOUIS (AP) — St. Louis' fortunes may be looking up, thanks to a surprising surge in business startups. ... More >>
15 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 11:03:00 AM CST in News
COLUMBIA - Prosecutors have filed charges against one of two men arrested following an assault at the Red Roof Inn... More >>
15 hours ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 10:25:00 AM CST in News
COLUMBIA - An MU associate teaching professor is presenting a petition to the Columbia City Council Tuesday evening on behalf... More >>
1 day ago January 17, 2017 Jan 17, 2017 Tuesday, January 17 2017 Tuesday, January 17, 2017 1:34:00 AM CST in News
COLUMBIA - Almost 50 years after the death of civil rights leader Dr. Martin Luther King Jr., Columbia groups still... More >>
1 day ago January 16, 2017 Jan 16, 2017 Monday, January 16 2017 Monday, January 16, 2017 10:08:00 PM CST in News
SUNRISE BEACH – Buying and selling personal property privately, such as furniture, clothes and cars, is commonplace in today’s world... More >>
1 day ago January 16, 2017 Jan 16, 2017 Monday, January 16 2017 Monday, January 16, 2017 9:18:00 PM CST in News
COLUMBIA - After a budget resolution aimed at repealing Obamacare was reached Jan. 12, groups in Missouri plan to protest... More >>
1 day ago January 16, 2017 Jan 16, 2017 Monday, January 16 2017 Monday, January 16, 2017 2:50:00 PM CST in News
CALIFORNIA (AP) - Central Missouri Democrats nominated an attorney who formerly worked for the Missouri Senate to run in a... More >>
1 day ago January 16, 2017 Jan 16, 2017 Monday, January 16 2017 Monday, January 16, 2017 2:36:00 PM CST in News
HILLSBORO (AP) - The Missouri State Highway Patrol says a 28-year-old man died after a four-wheeler he was riding on... More >>
1 day ago January 16, 2017 Jan 16, 2017 Monday, January 16 2017 Monday, January 16, 2017 2:09:00 PM CST in News
NICKELVILLE (AP) - A southwest Missouri county highway is expected to be closed until Thursday as crews clean up an... More >>
1 day ago January 16, 2017 Jan 16, 2017 Monday, January 16 2017 Monday, January 16, 2017 2:02:00 PM CST in News
Columbia, MO
Broken Clouds 36°
3am 30°
4am 29°
5am 29°
6am 30°

Select a station to view its upcoming schedule:

Coming Up Next

1:37a
Paid Program
2:07a
Today
3:00a
Mad Money
2:00a
Paid Program
2:30a
Paid Program
3:00a
Paid Program

Tonight's Schedule

7:00p
Blindspot
8:00p
Law & Order: Special Victims Unit
9:00p
Chicago P.D.
7:00p
Arrow
8:00p
Frequency
9:00p
KOMU 8 News @ Nine on The CW
9:30p
Seinfeld