Growth of Mini Medical Plan
Mini Medical Plan are one of the fastest growing segments and trends in US healthcare. It is estimated that over two (2) million Americans are insured with Mini Medical Plan and that these numbers are growing substantially. Over 9 years ago there were only about 3 limited medical plan insurance carriers where now there are over thirty. More and more employers have found that Mini Medical Plan provide a very meaningful benefit and that employees also find their healthcare benefits under a limited medical plan both meaningful and affordable.
The Effect of the Economic Recession
The economic recession is having a significant effect on Mini Medical Plan and US health insurance. Many top brokerage firms are reporting they are seeing an increased activity in limited medical plan sales and worksite plans due to the economic recessions. They are reporting that more employers are cancelling major medical plans and implementing Limited Benefit, and many employers are classing out employees taking full employees and making them part time employees, or full time employees who are not eligible for benefits. These employers are now offering Mini Medical Plan to these classes of employees.
Many employees can no longer afford dependent coverage for their families or can afford their contribution amounts for their employee only coverage or afford the deductibles and coinsurance so many are turning to Limited Benefit.
Changing Benefit Plans and Changing Classes
Many employers are starting to reclassify employees and taking full time employees and making them part time. These part time employees are no longer eligible for health insurance and are only eligible for Limited Benefit. Many other employers are starting to cancel major medical insurance for their employees and either not offering them any benefits or offering them a limited medical plan.
Healthcare Crisis in USA
There is a huge healthcare crisis in the United States. Over 50 million Americans have no health insurance and the number is growing significantly. And it is estimated that over 120 million Americans have no dental insurance. As health insurance becomes more unaffordable more Americans look to low cost affordable healthcare like a limited medical plan.
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