Health Care Costs

High-Deductible Plans Are a Growing Problem for Both Patients and Hospitals

The enrollment in high-deductible health insurance plans is becoming more and more commonplace as employers are searching for ways to curb their ever increasing spend on healthcare benefits for their employees.  Employees covered under high-deductible health plans find themselves spending more out of pocket on healthcare than ever before as more of the financial responsibility is shifted to them.

A recently released Kaiser survey reported that in 2006 only 4% of employees in employer sponsored health benefit plans were enrolled in high-deductible plans where today 20% are enrolled in these plans.  That is a significant increase.  The launch of the Affordable Care Act in 2014 is expected to further raise the number of enrollees in high-deductible plans.

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Insurance Bankruptcy Signs

Impending Issues with Increased Enrollment in High-Deductible Health Insurance Plans

Here is a concerning thought…As many Americans enroll for health insurance coverage under the Affordable Care Act (ACA), a large percentage may choose to enroll in the high-deductible health insurance plans associated with low monthly premiums offered through the exchanges.  What is going to happen when these patients receive bills from their hospitals and doctors that they cannot afford to pay?

While there has already been an uptick over the last decade in enrollment in high-deductible plans by insured Americans, many analysts foresee that the numbers will increase exponentially in 2014 and beyond with the enactment of the ACA.

The plans we reviewed on the exchanges for 2014 offered deductibles between $1000 and $6350.  Even with good intentions of choosing a plan that is affordable, a low income family could easily find it difficult to Read more