High-Deductible Plans May Worsen Wealth Divides Along Racial, Ethnic Lines
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Nov 27, 2024
High-deductible health plans (HDHPs), which are a popular plan-design choice among those attracted to their typically lower premiums, could be contributing to wealth disparities based on race and ethnicity, according to a recent Health Affairs study. Health policy experts tell AIS Health, a division of MMIT, that the results suggest more plan sponsors could help beneficiaries fund health savings accounts (HSAs) or other options to meet their deductibles. They also say policymakers could adopt regulations to limit out-of-pocket spending for medical care and prescription drugs.
The study authors analyzed data from the Medical Expenditure Panel Survey (MEPS) from 2011 through 2018 and evaluated 68,841 adults who had private insurance. They had access to financial information, including people’s incomes and net worths, which they defined as the sum of their assets minus any debts they owed. The assets included vehicles and houses as well as financial assets such as cash, savings accounts, retirement accounts and non-retirement investment accounts.
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