If people have health insurance, but it’s too expensive to use, does it really count?
One-quarter of people with healthcare coverage are paying so much for deductibles and out-of-pocket expenses that they are considered underinsured, according to a new study.
An estimated 31 million insured people are not adequately protected against high medical costs, a figure that has doubled since 2003, according to the 2014 national health insurance survey by the Commonwealth Fund.
Rising deductibles — even under ObamaCare — are the biggest problem for most people who are considered underinsured, according to the 22-page report.
… Half of underinsured adults and 41 percent of privately insured adults with deductibles of $1,000 or higher were paying off accumulated medical bills of $4,000 or more, the report found.
… People are most likely to be underinsured if they are employed by a small business, the study found.
Like experts predicted, ObamaCare increases access to healthcare, but increases costs along with it. Nobody is saying the health care system was perfect before ObamaCare. But the solution to getting more people on health insurance is to lower costs by allowing for more competition and choice in the marketplace.