The only problem is that the state has the highest average insurance premiums in the United States. Spending on health care is 27 percent higher in Massachusetts than the national average and the costs continue to grow.
The theory of universal health insurance system, of course, is to bend the cost curve of health insurance. Yet in practice, the new Massachusetts system has resulted in an annual increase of 30 percent in the individual market health insurance.
The most surprising fact may be that the report of the medical loss in Massachusetts for individual policies is 112 percent - meaning the insurance companies pay $ 1.12 in benefits for every $ 1 in premiums, wrote an opinion piece the Wall Street Journal . This means that insurance companies are faced with the undesirable passage choices the cost to consumers or going out of business.
On the flip side, the insurance coverage in Massachusetts is generally much better than it is around the nation. For example, insurance deductibles are on average 28 percent lower in Massachusetts than in the rest of the United States.
To help fight against spending seemingly out of control, Governor Deval Patrick wants to give state regulators the ability to cap rates hospitals, physician groups and specialist suppliers.
But it is very likely may be a useless effort. in the 1970s and 1980s, 30 states have tried to do the same with all states except Maryland rejecting the idea outright because he did not control the costs of health care.
Thus is a Massachusetts health care model and health insurance reform success or massive failure? Of course, depends on how you look at it all.
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