THE FAILURE OF AMERICAN HEALTH CARE TRANSFORMATION
This year, huge state insurance companies under the Obamacare market has made significant price increase to its monthly premiums by an average of 10% compared to its small competitors. However, Harvard University’s Institute for Quantitative Social Science indicated in their published journal that the said increase turned out to be unjustifiable if we are to consider the level of health claims that customers are getting.
Grace Gee and Eugene Wang from Harvard’s Technology Science conducted the study after HealthPocket released their research findings related to the crisis that US insurance companies’ currently face. They conducted the research to the 34 states that were served by the government healthcare (Obamacare) since it took effect last 2014. Included in their scope of study was the rapid transformation of the insurance companies’ premium prices after a year. The result of the findings is different from what HealthPocket is saying.
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