Most of us comparison shop when we need a new appliance, computer or car. But for the first time, I've tumbled into the new experience of comparison shopping to find the best deal on the cost of my medical care. I have been utterly shocked by what I've discovered so far.
The annual survey of the Centers for Disease Control finds that 20.3% of all people under age 65 have a high deductible health plan (HDHP) – more than the number covered by public programs (19.4%). The HDHP is defined as having a deductible of at least $1,100 for an individual or $2,200 for a family. Over one-fourth of this number also had a dedicated account (HRA or HSA).
Source: CDC report on NHIS Survey.
httpv://www.youtube.com/watch?v=-D9S48A81os
Bob Dylan singing "The Times They Are A-Changin'"
This is from today's White House Fact Sheet:
Today more than 6.1 million people are covered by HSA plans, up 35 percent since 2007. Low- and moderate-income Americans and those previously uninsured are enrolling in HSA plans. In 2005, the most recently available data, more than one-third of HSA policyholders had incomes under $50,000 per year, and one-third of individual HSA policyholders were previously uninsured.
India has developed a program to care for its poor that could be a model for how U.S. Medicaid should work. The Wall Street Journal reports Indian families who earn less than $100 per year qualify for a health debit card worth up to $700 in medical care. Prices are set by the government but hospitals are free to decide whether they want to enroll in the program and accept the card or not. For instance, a day in intensive care might cost up to $23 per day at the card reimbursement rates. The card is good at both public and private hospitals that have enrolled in the program. The card system functions very much like health savings accounts with some of the same consumer-driven incentives to manage costs wisely.
