I get to say it again‼️ I TOLD YOU SO! The big cost shift is on. The great slowdown in health care costs is more a function of low inflation than anything else. The moderation in premiums for employer plans is a result of a lessening of the value of those plans, including a move to the great scam of the century, the consultant dreamed up high deductible health plan shortly to be followed by the private exchanges accompanied by the defined employer contribution.
We haven’t solved any problem, we haven’t made health care more affordable, but we have shifted the burden to workers.
How ironic, the 40% Cadillac tax raises revenue in part by lowering lost government revenue by lowering tax free benefits and the response is tax-free health savings accounts with high deductible health plans.
Excerpt from Kaiser Health News 9-22-15
Premiums for job-based medical insurance rose moderately — 4 percent in 2015 — but employers continued to shift in expenses to workers, according to a new survey.
The average premium for single coverage rose to $6,251 while the average premium for a family plan increased to $17,545, according to a survey published Tuesday by the Kaiser Family Foundation and the Health Research & Educational Trust. (Kaiser Health News is an editorially independent program of the foundation.)
But deductibles — what plan members pay for care before the insurance kicks in — have been rising substantially faster than total health costs.
Forty-six percent of covered workers have a deductible of at least $1,000 this year for single coverage as employers shift to “consumer-directed” plans that give members incentives to seek less-costly care. Deductibles are more than $2,000 for single coverage for almost a fifth of covered workers.
“The so-called great slowdown in health care costs has been all but invisible to consumers because deductibles have been going up so much faster than their wages,” said Drew Altman, KFF’s CEO.
The average dollar amount of deductibles for individual plans has risen by two-thirds since 2010 while premiums have risen by only a fourth, the survey shows. Worker earnings, meanwhile, rose by 10 percent, only slightly more than overall price inflation.