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Obamacare, the law that could save you 2% or more on car insurance.
It isn't exactly the main pitch behind the health-insurance law, but a study released Wednesday by the Rand Corporation finds that as more people gain health insurance, the costs of other types of insurance could go down. In particular, car insurance and other liability-insurance companies that typically spend tens of billions of dollars each year on health-care claims related to car accidents, workplace injuries and other scenarios could see their health costs decline and could pass those savings on to consumers in the form of lower premiums.
In the case of car-insurance companies, the study points out that some uninsured people, upon suffering through a car accident, may then seek treatment for conditions they have that are unrelated to the car accident. If those types of conditions were covered by health-insurance companies, it could shave up to 2% off of the average costs incurred by auto-insurance companies, the study found. "It's extraneous stuff you might get the auto insurer to pay for," says David Auerbach, the lead author of the report and a health policy researcher with Rand Corporation. "It's hard to tell what was actually caused by the accident..."
It isn't exactly the main pitch behind the health-insurance law, but a study released Wednesday by the Rand Corporation finds that as more people gain health insurance, the costs of other types of insurance could go down. In particular, car insurance and other liability-insurance companies that typically spend tens of billions of dollars each year on health-care claims related to car accidents, workplace injuries and other scenarios could see their health costs decline and could pass those savings on to consumers in the form of lower premiums.
In the case of car-insurance companies, the study points out that some uninsured people, upon suffering through a car accident, may then seek treatment for conditions they have that are unrelated to the car accident. If those types of conditions were covered by health-insurance companies, it could shave up to 2% off of the average costs incurred by auto-insurance companies, the study found. "It's extraneous stuff you might get the auto insurer to pay for," says David Auerbach, the lead author of the report and a health policy researcher with Rand Corporation. "It's hard to tell what was actually caused by the accident..."
