On Tuesday, some of us may be looking for a cure for a hangover. (Web MD offers some advice here.) Some of us will want to toss out our scales!
But all of us will have a re-set on our health (and dental) plan calendar year deductibles, co-pays and annual out of pocket limits.
That can be a hardship for individuals with chronic health conditions; particularly for those who have deductibles of $5,500 or more.
Are deductibles that high unusual?
According to the Kaiser Family Foundation 2018 Employer Health Benefits Survey, the average deductible for small businesses is $2,132; for larger businesses, $1,573. (See Figure F and many other interesting findings here.)
Frankly, that’s misleading.
The individuals and companies we serve often gravitate to lower premiums and offset the higher out of pocket exposure using some combination of Flexible Spending Accounts (FSA's or Sec 125 Plans), Health Reimbursement Arrangements (HRA's or Sec 105 Plans) and Health Savings Accounts (HSA’s).
It was all so simple when a $250 deductible policy cost $85/month.
Now, the array of complex purchase options give many of us headaches.
For that, there’s an even better remedy than Prickly Pear.
See you in 2019.
Happy New Year!
