Article

How Will The 'Unbanked' Buy Insurance On The Exchanges?

unbankable

unbankable

unbankable,

When movie stars become , they’re no longer a slam dunk at the box office. When investments become , they’re relegated to the junk pile. For ordinary Americans deemed those who don’t have a traditional checking or savings account, it can be hard to simply pay bills. And that is about to become a big problem for those who also lack health coverage -- and for the health insurance companies trying to sell them coverage. After all, how do you sell a product to a customer who has no way to pay you?

One in five households in the United States, or about 51 million adults have only a tenuous relationship with a traditional bank, relying instead on check-cashing stores and money lenders, according to the Federal Deposit Insurance Corporation.

The new federal health law which requires most Americans to carry health insurance starting in January presents a particular problem for those households, since most health plans accept a credit card for the first month’s premium payment and then require customers to pay monthly with a check or an electronic funds transfer from a checking account.

Read the full story here: http://bit.ly/163SJVL

Source: Kaiser Health News

Related Videos
Dr Emma Achola-Kothani
Dr Emma Achola-Kothari
Casey Koch, PharmD, sitting for a video interview
Sam Peasah, PhD, MBA, RPh, director for the Center of High-Value Health Care at the University of Pittsburgh Medical Center (UPMC)
JC Scott, CEO and president of The Pharmaceutical Care Management Association (PCMA)
Galen Shearn-Nance, BS, and Johnie Rose, MD, PhD
Galen Shearn-Nance, BS
Dr Johnie Rose
Adam Colburn, JD, associate vice president for congressional affairs, AMCP
Tiffany Meng, PharmD, oncology pharmacist, UCSF Health
Related Content
AJMC Managed Markets Network Logo
CH LogoCenter for Biosimilars Logo