Consumer-Driven Healthcare Will Not Solve Our Healthcare Problems!
Thursday, February 7th, 2008How would an extra $5000 or $10,000 in additional expenses fit into your family budget? The consumer driven healthcare plans that were created as part of the Medicare overhaul legislation in 2003 by the Bush administration can result in high out-of-pocket expenses for medical care which is equivalent to a tax increase.
Consumer driven healthcare has two financial parts: High Deductible Health Plans (HDHP) and Health Savings Accounts (HSA).
High Deductible Health Plans (HDHP) tend to be less expensive than traditional health insurance coverage, but the out-of-pocket expenses are higher. People may obtain HDHP through their employers or buy them independently from insurance companies. HDHP have a minimum self-only deductible of $1050 and family deductible of $2100 and maximum out-of-pocket expenses of $5250 for self-only coverage and $10,500 for family coverage for 2006. These high deductible plans compare to the most common type of managed-care plan offered by employers that has an aver (more...)
