By: Leah Howard
Although the ACA is a big topic of the election, healthcare costs are still a concern for those individuals outside of the marketplace. The rising cost of healthcare deductibles for Americans who qualify for insurance via their place of employment is also an issue. This increase is not a product of the ACA, but rather began years before its passage in 2010. The rise of deductibles in 2016 was 12%, greatly affecting small businesses where almost 65% or employees of businesses with less than 200 workers have high deductible plans. The deductible is rising 6 times more than the rate of the average wage.
However, plans such as these are not a terrible option for some consumers. For those who are in good health, these plans are viable possibilities. On the other hand, they can leave individuals with chronic diseases and needs, or a lower income more vulnerable. In general, high deductible plans can also be a problem when there are large increases in the price of certain drugs, like those of the EpiPen. However, employers and the ACA can help cover some of the out-of-pocket costs for a lot of insurance plans. If you’re in the market for health insurance, do your research, and know which plans would work best for you. Most of all, keep in mind that this could all change on Tuesday, November 8th.