After almost 6 months of people purchasing their “New” insurance, we are finally noticing what the public’s new policies look like. First, people are buying higher deductibles than they ever thought. Prices have dictated these purchases.

Others have purchased more reasonable deductibles with much smaller provider networks including a huge upswing in HMO plans. There have also been more restrictions on the prescription formularies. This means fewer approved prescriptions with higher co-pays. The difference in consumer cost from generic to non-generic is getting much more pronounced. Many plans also have a separate Prescription deductibles.

These benefits are less than what people enjoyed a few years ago. Since plans have so many mandated coverages, there is little room to drop some coverages to improve the cost and deductibles.

1. Higher deductibles

2. Fewer Doctors and Facilities

3. Less and more expensive Prescriptions

Does the consumer have some options for help? The answer is YES. People have been flocking to the purchase of supplemental plans. Like people on Medicare, consumers are opting to purchase plan supplements to help their coverage.

We will be discussing options for supplemental coverage next.