Health Insurance

Why do I feel like we're about to be screwed yet again. Over the last couple years, we have been "tempted" by health insurance alternatives that lower monthly premiums at the expense of higher deductibles and co-pays. When you do the math, unless you know you are going to have some major medical event, it appears that you will come out ahead with the higher deductible plan. In my case, even a worst case scenario only exposes me to $2000 risk. So, the insurance company is offering me the "opportunity" to manage my healthcare costs and share the resulting savings with them. Nice of them isn't it?

But, what's really going on here? For years we have been told that the most important aspect of managing an illness of any kind is early detection and intervention. Let me tell you something folks. 90% of the people out there who have been told to "manage their own healthcare costs" and whose deductible and co-pay have doubled are going to think twice before heading out the door to the doctor. Yeah, I've got this funny pain in my chest.... but if I wait a few days, it will probably go away. Oh, that lump on breast, I think it's been there a while, I don't think it's anything serious. I've been feeling very tired lately. I guess I just need more sleep.

These high deductible plans, at least in my case, are an alternative right now. I can choose the old plan (which still has a deductible and co-pay) or the high deductible. My fearless prediction is that most people who don't have a known medical condition will jump to the high deductible plan. In a couple years the insurance company song will be: "Well, nobody wants these low deductible plans anymore, so we don't offer them". The healthy will be ok. Unfortunately it is the sick, who insurance is supposed to protect, that will pay most dearly.