The New York Times is reporting today that the cost of deductibles for employer provided health insurance has increased an average of 6 times greater than wages during the past 5 years. According to a study by Kaiser, a health policy research group,
Four of five workers who receive their insurance through an employer now pay a deductible, in which they must pay some of their medical bills before their coverage starts, according to Kaiser.
Those workers have seen their deductibles climb from a yearly average of $900 in 2010 for an individual plan to more than $1,300 this year, while employees working for small businesses have an even higher average of $1,800 a year. One in five workers has a deductible of $2,000 or more.
This situation is ridiculous. It’s basically theft because few employees are going to be able to afford the deductible. They are being fleeced by the amount they contribute monthly without much hope of ever being able to afford the deductible. Since they cannot afford the deductible, they avoid seeking medical care until they are at death’s door.
This is why we need single-payer health insurance.