I designed, managed and communicated health plans for many decades. there is no question in my mind that most people have the wrong plan to minimize their risk and keep their overall costs as low as possible.
Don’t feel bad though, even PhDs, including Paul Krugman say choosing a health plan is too confusing. Check out the article linked below from the New York Times.
There are several reasons most people find it so hard to choose a health plan, and often the wrong plan.
- Too many choices available
- Unrealistic fear of high health care bills leading to overinsuring
- The belief they will always have to meet their high deductibles
- The desire to not pay anything out-of-pocket for health care
- The idea that a higher cost plan is the best plan
- Not balancing fixed spending (premiums) with possible spending (health care)
- Fear of making the wrong choice
- Not reading or paying attention to communications about the plans available
- Assuming the plan in force now will be the best plan in the future
- Networks, participating, non-participating, etc.
There is no escape, private, government and employer plans are all too complicated.