{"id":8331,"date":"2022-09-14T09:37:10","date_gmt":"2022-09-14T09:37:10","guid":{"rendered":"https:\/\/healthwatchminute.com\/?p=8331"},"modified":"2022-09-14T09:37:10","modified_gmt":"2022-09-14T09:37:10","slug":"aflac-ceo-says-inflation-is-impacting-americans-ability-to-afford-higher-costs-of-health-care","status":"publish","type":"post","link":"https:\/\/healthwatchminute.com\/?p=8331","title":{"rendered":"Aflac CEO says inflation is impacting Americans\u2019 ability to afford \u2018higher costs of health care\u2019"},"content":{"rendered":"\n<div class=\"videojsplayer\">\n<div class=\"player-root-wrapper\">\n<div tabindex=\"0\" class=\"videojs player-wrapper\" aria-label=\"video 'inflation impacts ability to afford \u2018higher costs of health care\u2019: aflac ceo' \">\n<video class=\"video-js vjs-msn\" poster=\"\/\/img-s-msn-com.akamaized.net\/tenant\/amp\/entityid\/AA11PJVk.img\" 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src=\"https:\/\/prod-streaming-video-msn-com.akamaized.net\/ca019a55-eaf1-4294-9c0a-afa6c927267d\/b3335419-be37-403d-8801-d258e211.ism\/manifest(format=m3u8-aapl)\" type=\"application\/x-mpegURL\"><track src=\"https:\/\/prod-video-cms-amp-microsoft-com.akamaized.net\/tenant\/amp\/entityid\/AA11PI0M?blobrefkey=closedcaptionen-us&amp;$blob=1&amp;vtt=true\" label=\"United States (English)\" srclang=\"en\" kind=\"captions\"><\/video> <\/p>\n<div class=\"video-overlay\">\n<div class=\"video-info\">\n<div id=\"left\" readability=\"4.5137614678899\">\n<div readability=\"5.2660550458716\">\n<p>Inflation impacts ability to afford \u2018higher costs of health care\u2019: Aflac CEO<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"playlist-container\">\n<p> What to watch next\n<\/p>\n<p> <button class=\"leftarrow\"><\/button> <button class=\"rightarrow\"><\/button> <\/div>\n<p><button class=\"overlay-close\" title=\"close\" data-otfuseviewportforvisibility=\"true\"><br \/>\n<span><br \/>\n<\/span><\/button>\n<\/div>\n<p>\n<button> Click to expand<br \/>\n<\/button>\n<\/p>\n<div class=\"video-endslate with-playlist\">\n<div class=\"action\">\n<button class=\"replay\" title=\"Replay Video\"><br \/>\n<span>Replay Video<\/span><br \/>\n<\/button> <\/div>\n<\/p><\/div>\n<div class=\"nextvideo-outer\">\n<div class=\"nextvideo-inner\">\n<img alt=\"UP NEXT\" class=\"vid-image\"><\/p>\n<p> UP NEXT\n<\/p>\n<p> <button class=\"cancel\"><\/button>\n<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/div>\n<p>With another <a href=\"https:\/\/www.foxbusiness.com\/economy\/surprisingly-hot-august-inflation-data-solidifies-odds-jumbo-fed-rate-hike\">aggressive rate hike expected<\/a> from the Federal Reserve following August\u2019s hot inflation report, Aflac\u2019s chairman and CEO warned how higher rates can force average Americans to lose control of their &#8220;purse strings.&#8221;<\/p>\n<p>&#8220;Inflation&#8217;s terrible for the consumer and it really creates a problem,&#8221; CEO Dan Amos told FOX Business\u2019 Maria Bartiromo Wednesday. &#8220;It affects the purse strings of the average consumer and how they can afford these higher costs of health care.&#8221;<\/p>\n<p>Representing the largest provider of supplemental insurance in the U.S., Amos joined &#8220;<a href=\"https:\/\/www.foxbusiness.com\/shows\/mornings-with-maria\">Mornings with Maria<\/a>&#8221; to explain how the Fed\u2019s rate hikes are increasing customers\u2019 out-of-pocket costs.<\/p>\n<p>&#8220;If we&#8217;re going to pay $500 a day for every day in their hospital, even though inflation took place and let&#8217;s say it was $550 now, we still pay $500, but your rate stays the same,&#8221; Amos explained. &#8220;At time of claim, you&#8217;re not going to be as happy if you got $500 when you needed $550.&#8221;<\/p>\n<p><a href=\"https:\/\/www.foxbusiness.com\/economy\/us-national-debt-nears-31-trillion-compares-other-countries\"><strong>U.S. NATIONAL DEBT NEARS $31T: HOW IT COMPARES WITH OTHER COUNTRIES<\/strong><\/a><\/p>\n<p>Inflation at the wholesale level <a href=\"https:\/\/www.foxbusiness.com\/economy\/wholesale-inflation-soars-august-accelerating-more-expected\">cooled in August<\/a> for the second consecutive month, although prices for everyday necessities remain at a multi-decade high, squeezing businesses and millions of American households.<\/p>\n<p> <span class=\"storyimage fullwidth inlineimage\" data-aop=\"image\"><br \/>\n<span class=\"image\" data-attrib=\"John Lamparski\/Getty Images\" data-caption=\"Aflac CEO Dan Amos visits &quot;Mornings With Maria Bartiromo&quot; at Fox Business Network Studios on September 14, 2022 in New York City. Getty Images\"> <img loading=\"lazy\" decoding=\"async\" alt=\"Aflac CEO Dan Amos visits &quot;Mornings With Maria Bartiromo&quot; at Fox Business Network Studios on September 14, 2022 in New York City. Getty Images\" height=\"169\" src=\"https:\/\/img-s-msn-com.akamaized.net\/tenant\/amp\/entityid\/AA11PxXY.img?h=169&amp;w=300&amp;m=6&amp;q=60&amp;o=f&amp;l=f&amp;x=614&amp;y=180\" width=\"300\"><br \/>\n<\/span><br \/>\n<span class=\"caption truncate\"> <span class=\"attribution\">\u00a9 John Lamparski\/Getty Images<\/span> Aflac CEO Dan Amos visits &#8220;Mornings With Maria Bartiromo&#8221; at Fox Business Network Studios on September 14, 2022 in New York City. Getty Images<br \/>\n<\/span><br \/>\n<\/span><\/p>\n<p>The Labor Department said Wednesday that its producer price index, which measures <a href=\"https:\/\/www.foxbusiness.com\/category\/inflation\">inflation at the wholesale level<\/a> before it reaches consumers, declined 0.1% in August from the previous month. On an annual basis, prices soared 8.7% \u2013 a marked decline from the 9.8% increase recorded in July and the lowest level since August 2021.<\/p>\n<p>Hot inflation creates a &#8220;challenging environment&#8221; for insurance companies and consumers, Amos noted, while expressing worries around the possibility of a U.S. recession.<\/p>\n<p>&#8220;I&#8217;m not an economist by trade, but I do worry that recession is certainly a high probability,&#8221; Amos said. &#8220;I think time will tell in the next six months, we&#8217;ll have a much better view on what&#8217;s going to take place.&#8221;<\/p>\n<div class=\"videojsplayer\">\n<div class=\"player-root-wrapper\">\n<div tabindex=\"0\" class=\"videojs player-wrapper\" aria-label=\"video 'aflac to provide higher premium \u2018option\u2019 amid inflation: ceo' \">\n<video class=\"video-js vjs-msn\" poster=\"\/\/img-s-msn-com.akamaized.net\/tenant\/amp\/entityid\/AA11PI0R.img\" 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src=\"https:\/\/prod-streaming-video-msn-com.akamaized.net\/ba07836e-d852-495b-b74d-c24da9409396\/db7629e5-844c-4825-90ad-a65374c9.ism\/manifest(format=m3u8-aapl)\" type=\"application\/x-mpegURL\"><track src=\"https:\/\/prod-video-cms-amp-microsoft-com.akamaized.net\/tenant\/amp\/entityid\/AA11PsOx?blobrefkey=closedcaptionen-us&amp;$blob=1&amp;vtt=true\" label=\"United States (English)\" srclang=\"en\" kind=\"captions\"><\/video> <\/p>\n<div class=\"video-overlay\">\n<div class=\"video-info\">\n<div id=\"left\" readability=\"4.258064516129\">\n<div readability=\"4.9677419354839\">\n<p>Aflac to provide higher premium \u2018option\u2019 amid inflation: CEO<\/p>\n<\/p><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div class=\"playlist-container\">\n<p> What to watch next\n<\/p>\n<p> <button class=\"leftarrow\"><\/button> <button class=\"rightarrow\"><\/button> <\/div>\n<p><button class=\"overlay-close\" title=\"close\" data-otfuseviewportforvisibility=\"true\"><br \/>\n<span><br \/>\n<\/span><\/button>\n<\/div>\n<p>\n<button> Click to expand<br \/>\n<\/button>\n<\/p>\n<div class=\"video-endslate with-playlist\">\n<div class=\"action\">\n<button class=\"replay\" title=\"Replay Video\"><br \/>\n<span>Replay Video<\/span><br \/>\n<\/button> <\/div>\n<\/p><\/div>\n<div class=\"nextvideo-outer\">\n<div class=\"nextvideo-inner\">\n<img alt=\"UP NEXT\" class=\"vid-image\"><\/p>\n<p> UP NEXT\n<\/p>\n<p> <button class=\"cancel\"><\/button>\n<\/div>\n<\/div><\/div>\n<\/p><\/div>\n<\/div>\n<p>According to Aflac\u2019s CEO, the company plans to offer an <a href=\"https:\/\/www.foxbusiness.com\/category\/insurance\">optional, higher benefit policy<\/a> with higher premiums amid economic uncertainty.<\/p>\n<p>&#8220;But you don&#8217;t have to buy it. It&#8217;s your option. Whereas with others, as you know, it&#8217;s actual expenses,&#8221; Amos pointed out. &#8220;So if the expenses go up, the good news is you&#8217;re getting the higher benefits, but you&#8217;re also paying the higher premium, so people could drop the policy.&#8221;<\/p>\n<p><a href=\"https:\/\/foxbusiness.com\"><strong>READ MORE FROM FOX BUSINESS<\/strong><\/a><\/p>\n<p><i>FOX Business&#8217; Megan Henney contributed to this report.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Inflation impacts ability to afford \u2018higher costs of health care\u2019: Aflac CEO What to watch next Click to expand Replay&#8230;<\/p>\n","protected":false},"author":1,"featured_media":8332,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5],"tags":[],"class_list":["post-8331","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-health-care","wpcat-5-id"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - 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