The AP has an effective piece documenting the aspect of sticker shock we have not hit yet–when people realize that paying for monthly insurance will still require paying out of pocket costs. And lots of them. (I saw some poll that thought a significant percentage of people though Obamacare meant free health insurance). The bronze plans under Obamacare have very high deductibles.
The new federal and state health insurance exchanges offer policies ranked as bronze, silver, gold and platinum. The bronze options have the lowest monthly premiums but high deductibles — the amount the policyholder must pay before the insurer picks up any of the cost of medical care.
On average, a bronze plan’s deductible is more than $4,300, according to an analysis of marketplace plans in 19 states by Avalere Health. A consumer who upgrades to a silver plan could reduce the deductible to about $2,500. A top-of-the-line platinum plan has the lowest average deductible: $167.
Deductible, you ask? What’s that?
The complexities of insurance are eye-glazing even for those who have it. Only 14 percent of American adults with insurance understand deductibles, according to one recent study.
Can you imagine how pissed off people will be when they buy expensive experience, and then get saddled with a bill because of a high deductible plan? There will be outrage.
I’m sure Ilya Somin has something to say about these numbers, and rational ignorance. If only the President had read Ilya’s work, and had not been so confident people would learn and talk about health insurance while drinking hot chocolate and wearing pajama onesies.