health
Netflix's 'Beef' highlights a $5,000 deductible
A scene in the new season of Netflix's show "Beef," about a high health insurance deductible, illustrates a pain many Americans experience.
TL;DR
- Netflix's "Beef" season 2 dramatizes the issue of high health insurance deductibles, with a character facing a $5,000 deductible.
- Deductibles have become increasingly common in employer-sponsored insurance plans, with nearly 88% of workers now having one, up from 55% in 2006.
- High-deductible plans, some exceeding $7,000 on the ACA Marketplace, can lead to thousands of dollars in out-of-pocket medical costs before insurance coverage begins.
- Research suggests that unaffordable deductibles can negatively impact health outcomes, particularly for cancer patients.
- Strategies for managing deductibles include checking insurance cards, explanation of benefits, patient portals, calling insurance companies, and utilizing tax-advantaged accounts like HSAs.
- Certain preventative services are covered at no charge under the ACA, regardless of deductible status.
- Consumers are advised to research prices for medical services in advance and to verify that payments made are credited towards their deductible.