SAN FRANCISCO (press release)—Astonishingly, it’s reported that roughly one-quarter of people with health insurance are paying deductibles and out-of-pocket expenses that are so high they are considered underinsured, a new study has found. That’s the facts from the 2014 national health insurance survey by the Commonwealth Fund.
They estimate that approximately 31 million Americans that are now insured are not sufficiently protected against high healthcare costs. That figure alone has doubled since 2003, The Hill reported.
The biggest problem in this complex issue are rising deductibles for those considered underinsured, even with the advent of Obamacare. “The steady growth in the proliferation and size of deductibles threatens to increase underinsurance in the years ahead,” the report warns, according to The Hill.
The survey went on to note that people who purchase the lowest quality health coverage are also less likely to see a doctor when sick or injured because they fear high out-of-pocket costs. “People who have high deductibles do tend to skimp on healthcare,” the study’s lead author, Sara Collins, told reporters, according to The Hill.
Amazingly, half of underinsured adults and 41 percent of privately insured adults with deductibles of at least $1,000 had medical bills totaling $4,000 or more. A figure that is almost too unreal to register.
The report goes on to place major doubt on the Obama administration’s promise that millions of people would gain access to affordable healthcare under Obamacare. It should be noted the report does not take account of the people who were uninsured before 2014.
Yet despite the increase in deductibles, healthcare costs overall have not risen as of late. That is something which the Obama administration has taken partial credit for, The Hill said. Whether or not it has a thing to do with the Obama administration is subject to vigorous debate among the healthcare community professionals.
The rate of those underinsured has flattened over the last several years. The biggest increases in the underinsured population occurred between 2003 and 2010.