A good number of Minnesotans are not likely to be able to afford health insurance due to rising premiums and deductibles, an opinion piece on the Duluth News Tribune has suggested.
The author cites findings of the organization Freedom Partners Chamber of Commerce (FPCC), which conducted a study of deductibles across the country using data from the Robert Wood Johnson Foundation and the U.S. Department of Health & Human Services.
The study discovered that all three plans—gold, silver, and bronze—increased by an average of $317 in Minnesota for 2016. Data revealed that silver plan enrollees in the state have deductibles averaging $2,334, and bronze enrollees $6,115. Both groups of enrollees will have to pay such amounts before their health insurance coverage comes into effect.
FPCC’s study also found that premiums for individual exchange plans rose by an average of 47% in Minnesota this year.
A survey conducted by Bankrate.com last December pointed out that only 37% of Americans have enough savings to pay for unexpected expenses of even $1,000. The other respondents said that when faced with a costly unexpected expense, they would either add it to their credit cards, borrow from their relatives or friends, or reduce spending from other areas of their budget to make room for the new expense.
Taken all together, the FPCC’s study highly suggests that most Minnesotans would have trouble coming up with the payments for their health coverage plans.
