Rising deductibles could affect longtime patterns in the politics of healthcare, reports Wall Street Journal.
For those with employer-sponsored health plans, deductibles accounted for 47 percent of cost-sharing payments in 2014, up from just 24 percent in 2004, according to Kaiser Family Foundation. This rise in deductible payments, combined with the popularity of high-deductible health plans, has caused many patients to delay or forgo healthcare services altogether due to financial reasons. A different study by Kaiser Family Foundation found health spending grew by 4.2 percent per year between 2008 and 2012, down from 8.8 percent from 2001 to 2003.
This shift in cost-sharing and the slow-down of healthcare spending could drive a political shift in the healthcare industry. In the past, healthcare companies generally favored Republican policies and health proposals, according to Wall Street Journal. However, recent Democratic proposals to improve benefits and limit cost-sharing could result in improved business for healthcare providers.
On the other hand, Republican legislation designed to increase deductibles and other forms of cost-sharing could lessen the demand for healthcare services and result in more unpaid medical bills. This may be one reason the industry has generally not aligned with Republican efforts to repeal the Affordable Care Act, according to Wall Street Journal.
Whether deductibles continue to increase, issues related to adequacy of coverage and cost-sharing could be critical topics in the healthcare space and in upcoming elections.