Deductibles Have Become a Growing Factor in Underinsurance Rates

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Presentation transcript:

Deductibles Have Become a Growing Factor in Underinsurance Rates Indicators of underinsurance among adults ages 19–64 who were insured all year 2003 2005 2010 2012 2014 Out-of-pocket costs were 10% or more of income or 5% of more of income if low-income^ 14 million 25 million 23 million 24 million Deductible equals 5% or more of income 4 million 8 million 11 million Net increase in millions underinsured because of high deductible 2 million 5 million 6 million 7 million Underinsured* 16 million 29 million 30 million 31 million ^ Low income refers to those with incomes below 200 percent of the federal poverty level. * Underinsured defined as insured all year but experienced one of the following: out-of-pocket expenses equaled 10% or more of income; out-of-pocket expenses equaled 5% or more of income if low income (<200% of poverty); or deductibles equaled 5% or more of income. Source: The Commonwealth Fund Biennial Health Insurance Surveys (2003, 2005,2010, 2012, and 2014).