Ilovebenefits’s Blog

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Caveat Emptor when buying health insurance

Editor’s note: In other posts we have talked about the fallacy of high deductible health care plans. When either the costs (deductibles or out of pocket maximums) are too high to be supported by the income of the insured or the coverage that is purchased is insufficient (e.g., drug limits, etc.) then being insured is really a misnomer.

What isn’t apparent in this latest study is what lies beneath the word insured.

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62.1% of all bankruptcies in 2007 were medical; 75% of those persons had health insurance.http://www.amjmed.com/article/S0002-9343(09)00404-5/abstract

Source: “Medical Bankruptcy in the United States, 2007: Results of a National Study,” The American Journal of Medicine, abstract only, June 5, 2009,

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June 11, 2009 - Posted by | Affordability, Cost, Economics of Health care | , ,

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