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Average insurance deductibles keep rising

Posted By Martin Trussell CFC, Monday, August 13, 2018

The average insurance deductible keeps going up, as does the number of people covered by high-deductible plans. And only about half of those people get help from their employers to save up for potential medical bills, according to a new study in Health Affairs.

The study found that in 2016, 78.0 percent of HDHP enrollees in the smallest firms (those with fewer than 25 employees) lacked an employer-funded account, compared to 35.2 percent in the largest firms (those with 1,000 or more employees). Overall, HDHP enrollees in the largest firms had significant advantages relative to workers in smaller firms along all of the dimensions examined.

Read More. (Full report is available only by subscription)

Tags:  deductibles  HDHP  tax-advantaged account 

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Enrollment in HDHPs on the rise; traditional plan enrollment falls

Posted By Martin Trussell CFC, Monday, August 13, 2018

From BenefitsPro:

Workers with access to health care coverage through their employer are increasingly enrolling in high-deductible health plans, both with and without health savings accounts, as enrollment in traditional health plans has fallen.

So says a report from the Centers for Disease Control, based on data from the National Health Interview Survey. The report finds that, for adults aged 18–64 with employment-based coverage, HDHPs with HSAs saw a boost in enrollment from 4.2 percent to 18.9 percent from 2007 through 2017, while over the same period, HDHPs that lacked HSAs rose from 10.6 percent to 24.5 percent.

Read more. (Registration Required)

 Download a copy of the report here.

Tags:  HDHP  HSAa 

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High-Deductible Health Insurance: The Good, the Bad, and the Ugly

Posted By Martin Trussell CFC, Friday, May 11, 2018
From Forbes, By John Goodman

Kaiser Family Foundation study finds that about half of all people with employer provided coverage have a deductible of at least $1,000 . An Avalere study finds that the average deductible for silver plans in the (Obamacare) exchanges this year is almost $4,000. Some employers of fast food workers are only offering plans with the maximum out-of-pocket exposure Obamacare regulations will allow. Currently, that’s a $7,150 deductible for an individual and double that for a family.

There has been a sea change in the way the health policy community thinks about this. When Gerald Musgrave and I introduced the idea of Health Savings Accounts  25 years ago, the reaction was almost uniformly negative – in the health insurance industry, among the professional societies, among the hospitals and in the academic world.

The prevailing view at that time was that patients are incapable of making good decisions about how to spend health care dollars and that these decisions should instead be made by managed care professionals. Today we find even liberal Democrats defending extraordinary out-of-pocket burdens faced by people who get insurance in the exchanges they helped create. 

Despite this remarkable change in attitude, very few people seem to understand what is going on.

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Tags:  HDHP  John Goodman 

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