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Monday, 16 December 2013 14:24
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Healthcare Law Driving Up Out of Pocket Costs?

Are requirements of the nation's new healthcare law driving up out-of-pocket costs for people buying their own insurance?

In some cases, yes. But the law also eliminated some of the largest deductibles, or the amount a consumer pays for actual medical care before an insurance company begins paying.

The Affordable Care Act's cap on out-of-pocket costs — $6,350 for an individual and $12,700 for a family — did away with some whopping deductibles in plans previously offered to people without employer-provided coverage. Deductibles as high as $10,000 for an individual and $30,000 for a family were features of policies sold on the individual market in Illinois 11 months ago, according to a report from the U.S. Government Accountability Office. 

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