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And it has nothing to do with thread, either. This thread is about the deductibles on insurance plans available through the ACA website. The OP asserts that only very high deductibles are available. That's patently untrue. The ACA website has a range of plans available, with low deductibles and with high deductibles. As with any insurance plans, lower deductible plans cost more.
You can certainly go to the ACA website, and check out the prices for Arkansas Blue Cross Blue Shield plans. I think the low-deductible plans are reasonably priced.
Here is a similar plan to the one I purchased. BEFORE any subsidy is applied, the premium is $303/month. Significantly less than the premium I paid this year. With a $500/deductible and out-of-pocket maximum of $3500.
Gold Premier Plus Northwest Arkansas High Value Network
POS | Gold
QualChoice Health Insurance
APPLYDETAILS
Monthly premium
$302/mo
One enrollee
Premium before tax credit: $303/mo
Deductible
I am not on Obamacare and my family has a deductible of $2500.
What's the big deal?
A friend had a deductible of $5000 per year prior to Obamacare being implemented. I remember her complaining because of having a surprise pregnancy and having a history of C-section and so her family was going to have to pay the full $5000 for the first time since having that plan. But $5K is less than the max of $40K for a C-section. Mine was $23,300 and was uncomplicated in 2008. I had a great plan back then because we planned on getting pregnant so only a $50 deductible, which was met at my first appointment. But that plan was 30% more per month that what we pay now that we are not planning on anymore children.
Well, your friend gambled and lost. That's what often happens with these High D plans. People think nothing will ever happen to them, so they take the plan with the lowest premium, not thinking it through.
Well, your friend gambled and lost. That's what often happens with these High D plans. People think nothing will ever happen to them, so they take the plan with the lowest premium, not thinking it through.
Katiana, so I could go for the very best gold plan and pay a premium of $1960 monthly, with $6,000 max out of pocket. That's close to $30,000 per year in premiums plus out of pocket. Or go for the bronze HSA plan for $1130 monthly with a $5,000 family deductible and $12,700 max out of pocket for the family. So that's less money out of pocket even if both of us run up a lot of expenses.
YES there are low deductible plans and in my state, one would have to be really bad at math to buy one. I understand every locale might be different, but this is what it is here.
^^High deductible policies are not good for people who use their insurance a lot, unless accompanied with an FSA. That would include most childbearing families, and families with young children, also us more "mature" people who aren't old enough for Medicare yet. If you have to pay your $5K with post tax money, you're better off paying the insurance premium. For young people, say 20-40 or so, they're great.
Everyone but the very well off, live by a monthly budget.
This is what I was getting at in my OP.
People are going to pick what fits in their monthly budgets. Not what they really need or want.
What I was also getting at is, those with no room to move in their budgets are only going to be able to afford policies that are junk, compared to what they had.
Katiana, so I could go for the very best gold plan and pay a premium of $1960 monthly, with $6,000 max out of pocket. That's close to $30,000 per year in premiums plus out of pocket. Or go for the bronze HSA plan for $1130 monthly with a $5,000 family deductible and $12,700 max out of pocket for the family. So that's less money out of pocket even if both of us run up a lot of expenses.
YES there are low deductible plans and in my state, one would have to be really bad at math to buy one. I understand every locale might be different, but this is what it is here.
Marco, I don't know your specific situation, so I just randomly guessed. If you live in Michigan, I chose Barry County at random, you are age 53 and your wife is 49, and your household income is $51,000, this gold plan came up at the ACA website:
Blue Cross« Premier Gold
PPO | Gold
Blue Cross Blue Shield of Michigan
APPLYDETAILS
Monthly premium
$620/mo
2 enrollees
Premium before tax credit: $1,073/mo
Deductible
$300/yr
Family total
$150/yr
Per individual
Out-of-pocket Maximum
$10,200/yr
Family
$5,100/yr
Per individual
Copayments/Coinsurance:
Primary Doctor: $30 Copay after deductible
Specialist Doctor: $50 Copay after deductible
Generic Prescription: $15 Copay after deductible
ER Visit: $250 Copay after deductible and 20% Coinsurance after deductible
Well, your friend gambled and lost. That's what often happens with these High D plans. People think nothing will ever happen to them, so they take the plan with the lowest premium, not thinking it through.
They still ended up paying less per year than with a low deductible plan with higher premiums.
For instance, my friend had a $5K deductible for a plan that was $150 per month for a family. The total per year cost for the baby being born and the premiums was $6800.
If they had a plan with a low deductible of $50 for a family, the cost per month would be $600. For that year they would have paid $7250, so the high deductible plan was still cheaper and in a lot of cases this is true. Many people don't take into account that paying $300-$600 per month for insurance (I know people who pay $800 a month) does not mean that they are getting better care. It means they are just paying for something that in most cases they will not use.
And FWIW, my friend is not poor by any means so they were more than prepared to pay the $5K deductible because they are smart and keep money stashed away for unforeseen circumstances. Actually I feel that everyone should have access to a catastrophic $5K deductible plan (or even higher than that at $10K). Personally, I don't hardly ever go to the doctor, just for a check up as does my kids and husband. Yet we pay about $5K per year in premiums and still have to pay a co-pay. I'd rather just have a catastrophic plan for $50 a month and take care of $10K deductible if I had to do it. Hospitals do let you go on payment plans and it would be more affordable IMO to do that versus paying all this money for premiums that we aren't using.
They still ended up paying less per year than with a low deductible plan with higher premiums.
For instance, my friend had a $5K deductible for a plan that was $150 per month for a family. The total per year cost for the baby being born and the premiums was $6800.
If they had a plan with a low deductible of $50 for a family, the cost per month would be $600. For that year they would have paid $7250, so the high deductible plan was still cheaper and in a lot of cases this is true. Many people don't take into account that paying $300-$600 per month for insurance (I know people who pay $800 a month) does not mean that they are getting better care. It means they are just paying for something that in most cases they will not use.
And FWIW, my friend is not poor by any means so they were more than prepared to pay the $5K deductible because they are smart and keep money stashed away for unforeseen circumstances. Actually I feel that everyone should have access to a catastrophic $5K deductible plan (or even higher than that at $10K). Personally, I don't hardly ever go to the doctor, just for a check up as does my kids and husband. Yet we pay about $5K per year in premiums and still have to pay a co-pay. I'd rather just have a catastrophic plan for $50 a month and take care of $10K deductible if I had to do it. Hospitals do let you go on payment plans and it would be more affordable IMO to do that versus paying all this money for premiums that we aren't using.
OK. I want you to explain to me how a lady friend of mine benefited from this new plan she was forced into when her coverage was cancelled due to the ACA. Her premiums had been $186 a month, she payed a $2 copay and had $0 deductible. Under here new ACA policy she is paying $216 a month, she has no copay but she also has a $5800 deductible. This is not even a upper middle class woman and she can't afford the deductible so in effect she has no insurance anymore but has to pay $216 a month for the privilege of going without healthcare. Explain to me how this benefited her. I fully intend to pass your response on to her...
I never got the whole deductible thing. Health insurance is such a scam. It's just not worth having anymore. Why should you have to pay a premium each month and an extra $5,000 a year before the insurance covers anything? Doesn't seem fair.
Are you kidding? You must not have any experience with a serious illness. I had a serious case of pneumonia several years ago and ended up in the hospital for 15 days. The bill when I got out? $110,000. No surgeries or procedures, just basically lying in a hospital bed and hooked up to an intubator for a couple of days. Yes, I had to pay about $3500 to cover my deductible, but the rest was paid by insurance.
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