Although Obamacare’s health-insurance policies are shocking people by imposing very high deductibles, high deductibles alone are a feature, not a bug, of high-performing health insurance. In the absence of over-regulation of health insurance, every dollar a beneficiary pays directly to a healthcare provider, instead of to a health insurer as premium, reduces administrative and bureaucratic costs. If very few patients incur health spending above the deductible, administrative costs and hassles should shrink.
InstaMed, a payment-processing company that specializes in healthcare, has published its latest report on Trends in Healthcare Payments, which sheds much light on the growth in deductibles and co-payments.
Read the entire column at the Independent Institute's Beacon blog.