For thrifty consumers, there’s a lot to like in high-deductible health insurance. The plans offer low monthly premiums and those fees fully cover preventive care, including annual physicals, vaccinations, mammograms and colonoscopies, with no co-payments.
The downside is that plan participants must pay the insurers’ negotiated rate for sick visits, medicines, surgeries and other treatments up to a minimum deductible of $1,500 for individuals and $3,000 for families. Sometimes deductibles are much higher.
Let’s keep it civil.
I think the HSA is a big attraction for the GOP - tax advantaged encouragement to get more people investing more money in stocks. Practically, though it also means more people effectively self-insuring. My deductible is $6500, but I’m allowed to put $3500 into HSA, so 2 years’ HSA savings covers the deductible. Fine, for individuals that are reasonably healthy, but it reduces the pool of money that insurers have to pay benefits to people who do have claims.
Essentially incentivizing individuals to sabotage the system.
I’ve not had a HDHP with a higher deductible than the annual HSA max (for my family), but I agree if you end up in that boat it’s just self insuring for smaller claims which is frustrating. I think there should be a max deductible on the plan that matches up with the HSA max contribution so there’s not a self insuring gap.
But I think there are benefits to having control of my smaller, regular healthcare purchases. I don’t need approval to go to physical therapy, and I can buy over the counter stuff, eyeglasses, etc. without asking Anthem, Cigna, or Huamana for permission. So I favor the plans that bring control to consumers as long as they don’t leave people with big coverage gaps.