Many lack savings to pay deductibles, study shows

A new study has found that many non-elderly, non-poor households lack the resources to meet the deductibles and out-of-pocket limits that they may encounter in the private insurance market (Source: “Many Households Lack Liquid Savings to Pay Deductibles, Study Shows,” Commonwealth Fund, March 16, 2015).

While concerns about cost-sharing are not new, a Kaiser Family Foundation analysis observes that coverage expansions under the health care law have put a new focus on defining affordable coverage. Family expenses can easily exceed $10,000 when someone becomes seriously ill.

The study uses 2013 Federal Reserve data to compare households' liquid financial assets with cost-sharing representative of health plans offered by employers or available on the individual market, including in health law exchanges.