HEARING - U.S. Senate Special Committee on Aging

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CATASTRIPC PROTECTION IiDER 0.LOYEE (FULV ZINSW4CE
Protection against catastrophic health expenses are the major concern of
the private health insurance industry. Private health insurance provides
protection against health care expenses for an estimated 190 millin Americans
of all ages. Of all Americans covered by private health insurance, it is
estimated that over 160 million are protected by programs that are
caiprehensive in nature, providing coverage for both in and out of hospital
expenses.
For the working population, studies of group employee benefit plans among
commercial health insurance companies have shown trends toward adoption of
plan features that will both help contain costs and improve the comprehensive-
ness of the plans:
A higher percentage of employees today than ever before have larger maxi-
mum benefit levels with nearly 80i having maximun benefits of Sl,000,000 or
more.
- 91X of employees have out-of-pocket expenses limited to $2,000 or less.
- Over 99X of insured employees have coverage for inpatient expenses associ-
ated with mental and nervous disorders.
- Over half of all insured employees have coverage for home health care and
almcst two thirds for second surgical opinions.