Low premiums are an attractive feature of the policies available in the new insurance exchanges, but other costs could be steep, reports The New York Times.
“Until now, it was almost impossible for people using the federal health care website to see the deductible amounts … But federal officials finally relented last week and added a “window shopping” feature that displays data on deductibles.”
“For policies offered in the federal exchange, as in many states, the annual deductible often tops $5,000 for an individual and $10,000 for a couple.”
“By contrast … the average deductible in employer-sponsored health plans is $1,135.”
“Cost-sharing reductions” are available through subsidies based on income levels but “the government had not done much to inform people of these potential savings.”
“Many people buying insurance on the federal and state exchanges are expected to qualify for subsidies. But in the first month, for reasons that are not clear, only 30 percent qualified. The others must pay the full premium and will be subject to the full deductible.”