According to one advocacy group, Tennesseans could save nearly 700 million dollars in health costs under a provision of the federal health care overhaul.
The figures come from the liberal group Families USA.
Starting in 2014, new insurance plans will be required to cap the amount individuals spend out-of-pocket on things like copays or deductibles. Once that limit is reached, the insurer will have to pay everything.
The Families USA report looks at individuals’ current health spending to see how much of a difference a plan with those limits would make. It finds that more than 370-thousand Tennesseans would pay out less. Most of those people are in families where at least one person is employed, many with jobs at small businesses. Executive Director Ron Pollack says Tennesseans stand to save a total of 697-million dollars.
“This is a very substantial amount of money that people could use for other necessities of life.”
Of course, those millions of dollars to pay for medical care would have to come from somewhere. When asked how that would work, Pollack summed up the plan as a “government subsidy, in effect.”