Higher Deductibles Fueling Obamacare ‘Sticker Shock’

Why have insurance?

Via the Senate Republicans:

“…many people with modest incomes are encountering a troubling element of the federal health law: deductibles so steep they may not be able to afford the portion of medical expenses that insurance doesn’t cover.” (“High Deductibles Fuel New Worries Of Health-Law Sticker Shock,” The Wall Street Journal, 12/8/13)

“…as consumers dig into the details, they are finding that the deductibles and other out-of-pocket costs are often much higher than what is typical in employer-sponsored health plans.” (“On Health Exchanges, Premiums May Be Low, But Other Costs Can Be High,” The New York Times, 12/9/13)

“The average individual deductible for what is called a bronze plan on the exchange—the lowest-priced coverage—is $5,081 a year… That is 42% higher than the average deductible of $3,589 for an individually purchased plan in 2013 before much of the federal law took effect, according to HealthPocket Inc., a company that compares health-insurance plans for consumers.” (“High Deductibles Fuel New Worries Of Health-Law Sticker Shock,” The Wall Street Journal, 12/8/13)

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ID Man: ‘the deductibles were so high — $4,000 to $6,000 a year — that it defeats the purpose of having insurance’ “Mark A. York, a 60-year-old freelance writer in Hailey, Idaho, said he began shopping after he received a letter saying that his current insurance policy would be canceled because it did not meet the requirements of the health care law. In the exchange, he said, he found policies with premiums similar to what he is now paying, $440 a month, but ‘the deductibles were so high — $4,000 to $6,000 a year — that it defeats the purpose of having insurance.’” (“On Health Exchanges, Premiums May Be Low, But Other Costs Can Be High,” The New York Times, 12/9/13)

CA Woman: Deductible is ‘nearly double’ “‘However you look at it, the son of a gun lied to us,’ said Janette Ramsey, a Bakersfield business owner with a weekend home in Ventura. She’s losing her current coverage and expects to pay $50 more a month for a policy with nearly double the deductible.” (“Many In Middle Class Say They’re Squeezed By Health Reform,” Ventura County Star [CA], 12/7/13)