Starting January 1, 2014, federal health law will require most Americans to carry health insurance. How do you sell a product to a customer who has no easy way to pay for it, such as a bank account? That is the question that Sarah Varney asked in an article on NPR's website.
According to the article, one in five households in the U.S. has almost no interaction with a traditional bank. The lack of a bank account will pose problems for those without health coverage and for the companies trying to sell it to them through online exchanges.
The article highlights the fact that customers without traditional bank accounts will need simple and affordable payment options to purchase health coverage, such as credit cards or cash-loaded, prepaid debit cards. According to the article, the Affordable Care Act does not require health insurers to accept all forms of payment, and larger health insurance carriers are urging states to allow companies to set their own payment policies.
