The Deductible Dilemma

According to the New York Times, there are 50 million Americans who are gambling on high deductible health insurance policies.

As companies push workers to pay more for their medical care, millions of employees are facing a tough decision, choosing between high premiums and high deductibles.

The choice is this: Pay more every month for peace of mind later, or pay less and run the risk of having higher out-of-pocket costs down the line.

And increasingly, people are doing the math and deciding that the risk is worth it — leaving them responsible for thousands of dollars in medical bills and forcing them to make hard decisions about whether some care is worth it.

But as Better notes in an interesting case study of Brian and Cristina, many younger or relatively fit Americans, including 44% of millennials,  chosie a high deductible health policy to protect them against catastrophic medical bills.

They’re gambling that an accident won’t happen. But when Brian got on his bike earlier this year, “he didn’t give a thought to his PPO 5500 Bronze policy and what would happen if… then, on the Alhambra Valley Road, if happened.”

Read the whole case study to learn the ins and outs of high deductible health insurance policies and why it’s better to be safe than sorry.