Summary
Some experts suggest that for healthy individuals, it might be cheaper to pay for health care directly rather than through insurance. However, people who frequently need medical care usually benefit from having insurance. Rising costs in health insurance are partly due to increased expenses and the end of certain government tax credits.
Key Facts
- Health insurance costs are expected to rise, with ACA plan costs increasing by about 20% and employer plans by over 6% next year.
- Without insurance, health expenses might be less for those who rarely need medical care.
- Paying cash for services can be cheaper in some instances because it avoids insurance paperwork costs.
- 57% of Americans are very worried about rising healthcare costs, according to an AP and NORC poll.
- Approximately 20% of people account for 80% of medical expenses.
- Catastrophic health plans exist for people who want less routine coverage but protection against high emergency costs.
- Some pharmacies offer generic drugs at low prices when paid for in cash.
- Experts caution against going without insurance due to unpredictable high medical expenses.
