Health insurance caps leave patients stranded

Is health insurance keeping up with inflation? As stated, the one million dollar capped policy of the 70’s might be more like 10 million today. More consumers are buying these policies, why, because they are what’s affordable, that is if they can still afford health insurance. It’s like a roll of the dice at the craps table, sitting on the “pass” line, but all that comes to a head after several non winning rolls of the dice and the money is gone.

What happens when a patient maximizes their lifetime amount allowed? Do they just join the ranks of the uninsured? After draining other resources such as savings, etc. there’s not much choice left at the end of the line. Some are told they make too much money to qualify for Medicaid. With the price of cancer treatments and drugs today, the maximum can be hit pretty quickly. When savings, gifts, etc. are exhausted, one of the next items on the list is bankruptcy, and medical bills are the number one leading causes and people continue to lose their houses over mounting medical expenses. BD

“You can eat through a million-dollar lifetime cap in two or three surgeries,” he said.

Low lifetime maximums are found more often in small-employer group plans, Flanagan said, noting that those businesses generally have less insurance buying power. He said employers often give their workers a choice on plans or premiums but not on lifetime maximums.

“You can eat through a million-dollar lifetime cap in two or three surgeries,” he said.