Study Shows Many Lack Savings to Pay Deductibles

Source: Health Policy Institute of Ohio

A new study has found that many non-elderly, non-poor households lack the resources to meet the deductibles and out-of-pocket limits that they may encounter in the private insurance market (Source: “Many Households Lack Liquid Savings to Pay Deductibles, Study Shows,” Commonwealth Fund, March 16, 2015).

While concerns about cost-sharing are not new, a Kaiser Family Foundation analysis observes that coverage expansions under the health care law have put a new focus on defining affordable coverage. Family expenses can easily exceed $10,000 when someone becomes seriously ill.

The study uses 2013 Federal Reserve data to compare households’ liquid financial assets with cost-sharing representative of health plans offered by employers or available on the individual market, including in health law exchanges.

FacebookTwitterEmailGoogle+Share

Comment

Disclaimer: The views and opinions expressed in comments published in Weekly Family Medicine Update (WFMU) are those of the writers alone. They do not represent the views or opinions of Ohio Academy of Family Physicians (OAFP) or its staff. Comments are automatically posted live; however, OAFP reserves the right to take down comments at any time.

Time limit is exhausted. Please reload CAPTCHA.