High-Deductible Health Plans Can Cost Patients A Discount
Excerpt:Health insurance plans that need consumers to pay even more in out-of-pocket medical expenditures could have hidden costs. As employees consider their health insurance choices this fall, chances are there's one on the open-enrollment menu with a deductible of even more than a $ 1,000. Insurance coverage like that is frequently connected to a tax-advantaged monetary savings account to pay for medical expenditures that fall below the large deductible. More than two-thirds of companies anticipate to offer high-deductible plans following year, according to a study by perks experts Towers Watson and the National Business Group on Health. The premiums are usually reduced than for conventional insurance, so these high-deductible plans could be appealing, particularly for healthy people who don't anticipate to require much healthcare over the course of the year.
Keywords:
deductible health insurance emergency care medical billing preventive care insurer discount emergency room emergency department Towers Watson heart attack savings account hospital expenses the bill Business Group out-of-pocket tax-advantaged hefty consumer this fall next year discounted adjustment employers company pony healthy menu contracts a survey trip consultants problems standard traditional America financial variousPeople:
Pat Palmer
Overall Sentiment: -0.0205888
Relevance: 0.768858
| Sentiment | Quote |
|---|---|
| -0.162775 | "People think they'll take the high-deductible plan so they have catastrophic care if they have a heart attack or need to be in the hospital," says Pat Palmer, ... |
| -0.0955665 | "People think they'll take the high-deductible plan so they have catastrophic care if they have a heart attack or need to be in the hospital," says Pat Palmer, founder of Medical Billing Advocates of America. "But a standard trip to the emergency room can be way beyond their deductible, up to $10,000 for simple care." |
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Towers Watson
Overall Sentiment: 0.506313
Relevance: 0.351432
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Additional Info:
Organization: National Business Group
Overall Sentiment: 0.628334
Relevance: 0.318592
FieldTerminology: Health Insurance
Overall Sentiment: 0
Relevance: 0.465561
HealthCondition: heart attack
Overall Sentiment: -0.384567
Relevance: 0.359445
Disambiguation: DiseaseOrMedicalCondition | CauseOfDeath | RiskFactor | Symptom | DiseaseReferences:
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People hoping to save a few dollars by choosing insurance with low upfront costs may be losing out. Hospitals and other health care providers sometimes fail to apply discounts when individuals, rather than insurers, are paying the bills.
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High-Deductible Health Plans Can Cost Patients A Discount
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