The current debate about repealing ‘ObamaCare’ has generated a lot of bad blood between the Republican controlled house. The current debate over the future of the Affordable Care Act is obscuring a more pedestrian
Just because a person is insured doesn’t mean he or she can actually afford their doctor, hospital, pharmaceutical, and other medical bills. The point of insurance is to protect patient’s finances from the cost of everything from hospitalizations to prescription drugs, but out-of-pocket spending for people even with employer-provided health insurance has increased by more than 50 per cent since 2010.
The Kaiser Family Foundation reports that in 2016, half of all insurance policy holders faced a deductible- the amount people need to pay on their own before their Insurance kicks in, of at least $1,000.
For people who buy their insurance via one of the Affordable Care Act’s exchanges, that figure will be higher still. Almost 90 per cent have deductibles of $1,300 for an individual or $2,600 for a family.