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What Does Modern Healthcare Coverage Look Like?

By Jeremy Mclendon, Vice President of Insurance Affairs,

When it comes to the topic of accessibility of healthcare coverage, everyone agrees there needs to be reform but cannot agree on how or what changes to make. The pandemic shook the globe and demonstrated specifically to Americans what the true cost could really be for those without health insurance.

The Current System
Here is what you need to know about the structure of modern health insurance coverage in the United States.

  • Healthcare coverage companies prior to 2008 could deny individuals due to pre-existing conditions, meaning they would not be able to be insured due to perceived “high risk.” The Affordable Care Act (ACA) extended healthcare coverage to millions of Americans and mandated coverage of those with pre-existing conditions.
  • Insurance carrier stock prices are up >200% since the inception of ACA. Most, if not all reported quarterly earnings at all-time highs in FY 2020. Health insurance companies profit at least 3–5%, with most of their expenses including unnecessary overhead like advertising/marketing, executive salaries, and shareholder ROI.
  • Most general healthcare coverage plans are the same and offer similar benefits, networks, and price points. They all vary in premiums and deductibles limits.
  • The cost of healthcare coverage is rising at a minimum rate of 9% per year.

Looking Forward
The future of healthcare coverage is pointed in a global direction. If 2020 taught us anything, it’s that a virus discovered on the other side of the globe can travel and affect the entire world and all of those in it in a matter of weeks. It’s also shown us the importance of ensuring everyone has access to outstanding preventative medical care at a fair price. Since the world is more interconnected than ever, select carriers even host global healthcare coverage for travelers and those working from remote locations.

The industry is innovating with the times, especially in the United States. These innovations are driving widespread access at lower costs and provide patients with more possibilities to receive life-changing care through advanced technologies, resources, and funding. These items lead to 21st-century advancements in healthcare, and healthcare coverage by extension also needs to modernize.

Data is King
The way healthcare will look in the future centers around data. Data is constantly being collected in all areas of our lives, and in this instance, it is not being sold to third parties and you can save money as a result! Carriers like BEAM and Oscar offer wellness programs to their customers centered around incentives for healthy lifestyle choices. Many companies pair incentive programs with fitness trackers and other innovative technology pieces to gain encrypted, secure, and anonymous data about those enrolled in healthcare coverage and provide discounts based on active lifestyle choices.

Where Technology Fits In
Another way technology has really changed healthcare coverage in the last year is access to remote providers. Some healthcare coverage plans include non-insurance benefits to reduce claims on your insurance while providing the healthcare needed. Telehealth is one of these types of benefits where you can speak with a licensed medical professional 24 hours a day, seven days a week and if needed can be prescribed medication.

Another similar benefit is work/life care balance where you can speak with a licensed counselor to help you with what is going on in your life 24 hours a day, seven days a week. Finally, technology can help by sorting through your insurance claims, and ensuring everything is correct and you are not overpaying for the healthcare you received. Medical Bill Saver helps ensure that you are not the one in ten insurance claims that is incorrect and will negotiate the bill on your behalf saving you not only money but time and stress!

Choosing The Best Coverage
As you look at your healthcare coverage options in this globalized marketplace it’s even more important to ensure you make the choice that is right for you and your team. is here to help with a suite of non-insurance benefits included with every plan, nationally recognized carriers, innovative products from carriers you’ve never seen before, and a support team to answer your questions.

Schedule a Call
Visit to schedule a call with a trusted advisor at a date and time that works for you. They will be able to walk you through plan options and assist you with enrollment.