A recent analysis from the Kaiser Family Foundation shows that many non-elderly Americans with private insurance don’t have enough liquid assets to pay the deductibles associated with their health plans. Thirty-five percent don’t have the assets to pay a higher-range deductible of $2,500 single/ $5,000 family and 24% don’t have the assets to pay a mid-range deductible of $1,200 single/$2,400 family. Although the analysis focused on households with private insurance, we can assume that there are people covered by employer plans facing similar financial challenges. This data highlights the importance of employer efforts to provide strong decision-support and transparency tools and lower-cost medical options like telemedicine.
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