Although more Americans have health insurance coverage, 25 percent of non-elderly Americans don’t have enough liquid assets to cover the deductible on their health insurance plan, according to a new report from the Kaiser Family Foundation.The report finds that many consumers don’t have the cash on hand to cover the cost of a mid-range deductible or $1,200 for an individual or $2,400 per family. High deductible health plans require that consumers cover their health care costs out of pocket until they’ve met their deductible.
Yeah, I would be loathe to part with $1200 to $2400 for medical care at the drop of a hat like that. I have many contingency funds but many Americans don't have this kind of thing to back them up. What is the use of insurance if you don't use it because you have to drop $1200 just to use it?
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