High Deductible Health Plans: A Case Study

Regrettably, there is a downside of High Deductible Health Plans (HDHP), and that is the likelihood of higher expense later on if there is any cataclysmic medical issue with you or your family. With a High Deductible Health Insurance Plan, you run the risk of having higher out-of-pocket expenses. For example, a major medical issue warrant surgery, you would have to pay your deductible before the insurance company pays anything. This may cause you to forgo crucial health care needs; due to the high-deductible and out-of-pocket expenses you would occur. Lastly, if your monthly out-of-pocket expenses are high, this will enable you to have an advantageous use of your health savings account (HSA).

The Affordable Care Act, signed into law on March 23, 2010, consists of 10 titles which provide Americans with health benefits. Sometimes this is referred to as “Obamacare” or the Patient Protection Act. The basis of the ACA is to assure that Americans can afford quality health insurance, without discrimination, while making purchasing insurance competitive for buyers, while also eliminating the uninsured (U.S. Department of Health and Human Services [HHS], 2015a). This allows the consumer to take control of their health care while making informed choices. By providing affordable health care, this will help reduce wasteful spending that does not improve the quality of health care, which could generate an annual savings of around $140 billion after a five-year period (Sahni, Chigurupati, Kocher, & Cutler, 2015). All American’s were required to be insured either by purchasing private insurance, by their employer, or

Conclusion: The Obamacare has its very good points it does benefit the economy in ways that are meant to take the economy out of debt. But they do cause side effects that may not have been thought of.

Health service system as defined by "Roemer" in the text is the pooling of resources, organizations, financing, and management that aggregates to the delivery of health services to the needs of a population (Barton, 2010, p. 3).

HSAs are to be used in conjunction with a high-deductible health plan, which in the current plan year is defined as a medial plan with a minimum annual deductible of $1300 for self-only and $2600 for family coverage (wherein "family" consists of any combination of

Many people in the United States at some point in their life pay for health insurance or health care. Usually the people who pay for health insurance is either retired from work or are in their primes with children to care for. There are many other kinds of health care associations in the U.S., but there’s a major health insurance cooperation in today’s society that is causing problems in America’s economy and causing major drops in unemployment rates everywhere in the U.S., named after the 44th president of the United States of America, President Barack Obama, Obamacare is a type of health care system that is outrageously expensive and money consuming, putting Americans into serious debt. It had once been seen as a plan to help Americans

This is because the Affordable Care Act is transforming how firms operate. This has resulted in the system facing unprecedented challenges. Many of these issues are based upon how to implement them in compliance with existing regulations (i.e. shared responsibility). Under these guidelines, the federal government will provide assistance to the states through Medicare to help extend coverage to the poor and middle class. These individuals will qualify for lower insurance premiums and greater choices in plans / providers. This is challenging, as HCA must be able to adapt and evolve with the issues it is facing in these environments. ("HCA Holdings," 2014) (Standard and Poor's,

Health insurance is essential in order to assist in paying for hospital and clinic visits. Without health insurance cost would be astronomical and people would not be able to afford health care. Blue Cross/ Blue Shield and Health Maintenance Organization, were some of the many insurance companies widely used before the Affordable Care Act. Although health insurances existed, many individuals and families were not able to afford them due to the increase in the cost of health care. New research over the years has enabled the creation of new medicine and technology in our practice. This leads to services being more expensive for individuals, which raises the price of insurance.

The chosen policy is the Health Insurance for Former Foster Youth Act (S.1797, 2017). This proposed law at the federal level is intended to secure access to health care for youth who have reached a certain age at which they are no longer eligible for foster care resulting in not having health insurance coverage (S.1797, 2017).

Some the ten were most covered by existing plans, but not all ten. Under the ACA preventive care, maternity and newborn care, mental and behavioral health treatment, services and devices to help people with injuries, disabilities, or chronic conditions, pediatric care that includes vision and dental care are included within all insurance plans. Hospitalization was not a part of all insurance plans, but it is now covered in all plans. (Amadeo, 2015)All of these aspects of the medical field promote illness prevention and reduces expensive emergency room visits. Moving millions of Americans to the preventive side of medicine instead of the reactive side provides a healthier American public. This decreases days away from work and increases employees’ wages. The ACA does not allow insurance companies to deny applicants due to preexisting conditions or raise premiums once they seek medical attention. This helps many Americans that have had health issues in the past and were unable to obtain health insurance due to these

The Affordable Care Act, which expanded access to affordable healthcare across the country, has excluding coverage to the almost twelve million undocumented immigrants living in the United States (Nevarez, 2014). Excluding these members of the country has left it nearly impossible to obtain healthcare needs for these individuals. State laws suggest, undocumented immigrants are not allowed any assistance including federal subsidies in order to purchase medical coverage. Undocumented immigrants are also restricted against personally purchasing healthcare coverage through an insurance company, which leaves few options to obtain proper medical care (Nevarez, 2014). Statistics have found that over half of the undocumented population residing in

The changing landscape of the current health care system in the United States has caused new methods of insurance to gain in popularity. The High-deductible health plan (HDHP) is increasingly favored by employers and offered on the exchanges created under the Affordable Care Act (ACA). According to the Centers for Medicare & Medicaid Services (CMS) a HDHP is “a plan that features higher deductibles than traditional insurance plans. High deductible health plans (HDHPs) can be combined with a health savings account or a health reimbursement arrangement” (2015). In the HDHPs premiums are lower, offset by the higher deductible. The health reimbursement arrangement (HRA) the employer contributes to a fund for medical expenses while in the health savings account (HSA) which employees pay into but is not required of the employer (Shi & Singh, 2012, p. 208). The growing popularity of these plans is important as it will have effects on the healthcare costs as well as how consumers use healthcare.

state that the individual deductible has to be under 1250, which oddly enough is just slightly under the 1300 required to be HSA eligible. That $50 difference has two major effects on the individuals in the silver plans one you will not be able to buy what is considered an HSA eligible plan, they will not be available deftly not in 2018 likely not in 2017. So, you be paying more in premiums for your health insurance and you will no longer be eligible for contributing to an HSA account. This is a significant change in something we really need to start planning for right

I am a firm believer in the fact that everyone deserves healthcare. Although the affordable healthcare act does promote health and does cover more screenings so that people can avoid delaying health problems, there are public policy implications that will affect the future of Medicare, Social Security and aging services. The Affordable Health Care Act requires every American to have health insurance and unless exempted, they must pay a penalty when they file their taxes. Businesses are cutting employees hours to avoid covering employees. Insurance companies cannot deny someone because of pre-existing health problems. Companies will have to pay up to cover health care costs and they cannot put a set dollar limit on coverage, which has caused

| Pressure to save the money in your HSA might lead you to forgo care.