High deductible health insurance is an irritation for young, healthy families with modest incomes. In fact, health insurance with, say, a $10,000 deductible is almost like not having health insurance at all.
So, what can be done? One option is to buy down the deductible by paying a higher premium for less exposure. But people who try that often confront an unpleasant reality: the extra insurance you can obtain by buying down the deductible is the most expensive insurance there is. In fact, eventually you will reach a point where an extra dollar of coverage costs more than a dollar of premium.
|John C. Goodman is a Senior Fellow at the Independent Institute, President of the Goodman Institute for Public Policy Research, and author of the widely acclaimed Independent books, A Better Choice: Healthcare Solutions for America, and the award-winning, Priceless: Curing the Healthcare Crisis. The Wall Street Journal and the National Journal, among other media, have called him the Father of Health Savings Accounts.|
Obamacare remains highly controversial and faces ongoing legal and political challenges. Polls show that by a large margin Americans remain opposed to the healthcare law and seek to repeal and replace it. However, the question is: Replace it with what?