The Risks of High Deductible Plans

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We have provided past guidance to healthcare consumers regarding the financial risks associated with high deductible health plans. These health plans were intended to be paired with health savings accounts (HSAs) which would allow the consumer to save money on a pre-tax basis to pay for their annual healthcare out-of-pocket costs.

Unfortunately, only a small fraction of consumers with high deductible plans actually has an HSA. In a recent post, we have highlighted recent data that showed the buildup of $88 billion in medical debt. The link below documents the result of this situation by indicating that the majority (58%) of hospital bad debt now relates to the out-of-pocket costs of insured patients. This confirms that many healthcare consumers are selecting the wrong health plan for their circumstances.

https://www.healthcarefinancenews.com/news/high-out-pocket-costs-are-negatively-affecting-revenue-cycles#.Yw-iWN_h53U.linkedin

The High Costs Of COVID-19: Does The Right To Healthcare Also Come With Responsibility?

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A Harvard study estimated the total financial losses due to the pandemic at $16 trillion[1]. Health losses made up over half of the total including $4.375 trillion from premature death; $2.572 trillion from long term health impairment; and $1.581 trillion from mental health impairment.

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The Affordable Care Act Decision: Can Common Sense Prevail In The Midst of Political Chaos?

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However, to borrow from Ruth Bader Ginsberg’s last communication with her granddaughter, it is our “fervent wish” that the Supreme Court will apply basic common sense and will take into account the stated intent of Congress when they make their decision regarding the ACA’s fate. In our view, although it is far from perfect, the ACA has played a central role over the past decade.

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