Commonwealth Fund released it’s latest report- Too High a Price: Out-of-Pocket Health Care Costs in the United States, reflecting the severe problem of high deductibles for those least able to overcome the hurdle of financial burdens. The survey polled 2,751 adults ages 19 to 64 about the costs of their health insurance.
- 21% of adults with health insurance spent 5% or more of their income on out-of pocket expenses, not counting premiums.
- Another 13% spent 10% or more
- 13% of people with private health insurance now have plans with a deductible that is equivalent to 5% or more of their income
- 43% admitted that the deductible was difficult or impossible to afford
- As much as 40% of adults with 5% deductible or more, generic version of ventolin skipped seeing the doctor for treatment when sick, avoided follow-up exams or ignored specialist care.
While people with chronic conditions must now be able to purchase health coverage, they may not be capable of footing the bill! They were more apt to spend a larger percent of their income on medical care which was not included in their insurance policy.
Premiums have been escalating for each of us regularly. Perhaps it’s time for the insurance companies to do their part and forego such a high profit or decrease the insurance CEO annual fee so that everyone is playing their part!
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