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Is High Deductible Health Insurance Worth the Risk? - The New York Times

Reed Abelson of The New York Times takes an alternate – and more positive – look at employee reactions to high deductible health plans (HDHPs).

Read the full original article from The New York Times.

Abelson notes the rise of HDHPs under employer plans, and cites concerns: “There is no doubt that these plans can be a source of real financial hardship and poor medical decisions.” However, the article goes on to report that “even people with a steady flow of medical bills have decided that the potential savings are worth the risk. On average, families saved almost $150 a month in premiums, or $1,800 a year, if they chose the high-deductible option, coupled with a health savings account offered by many large employers, according to Mercer.” Other advantages include more awareness of health costs and less money taken from wages.

High deductible health plans could be the right option for your employees - make sure you know all of your options when purchasing a healthcare plan. Start by downloading Nonstop's guide - Best Practices for Employee Healthcare Purchasing.

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The information and materials herein are provided for general information purposes only and are not intended to constitute legal or other advice or opinions on any specific matters and are not intended to replace the advice of a qualified attorney, plan provider or other professional advisor. This information has been taken from sources believed to be reliable, but there is no guarantee as to its accuracy. This communication does not constitute a legal opinion and should not be relied upon for any purpose other than its intended educational purpose.

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