It’s open-enrollment season. Should you opt for a high-deductible health insurance plan with lower monthly costs?
Hello and welcome to Financial Face-off, a MarketWatch column where we help you weigh financial decisions. Our columnist will give her verdict. Tell us whether you think she’s right in the comments. And please share your suggestions for future Financial Face-off columns by emailing our columnist at [email protected].
The face-off It’s the time of year to sign up for a new health insurance plan, either through an employer or through the government’s Health Insurance Marketplace. One of the survey’s more troubling findings was that even people who have health insurance fall into debt, with more than four in 10 insured adults reporting that they currently had health-related debt.
The federal government defines a high-deductible health plan as one with a deductible of at least $1,400 for an individual and $2,800 for a family. As the KFF survey found, medical debt is common even among people with health insurance, she noted. “There are lots of reasons for that, but high deductibles are one culprit,” Pollitz said.
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