High out-of-pocket costs are creating financial barriers that are unsustainable for many patients.
For the nearly one in two American adults living with at least one chronic illness, affordability and access to medicine is crucial.
Unfortunately, if you have a chronic condition, there may be unexpectedly high upfront costs to access needed medicines, especially for people with health insurance exchange coverage. These out-of-pocket costs may mean financial hardship for patients, choosing between food and medicines or foregoing a needed medicine altogether.
Our story is about Eric, a hypothetical health insurance exchange patient developed with the help of Avalere Health. Eric is a 57-year-old man living in Colorado with chronic myeloid leukemia. He is facing high out-of-pocket costs in his silver health insurance exchange plan. New data out from the Kaiser Family Foundation this week suggest more than 40 percent of Americans with private insurance do not have enough savings to cover the costs Eric would face in the first two months of the year.