Cadillac Health Insurance

Cadillac health insurance has been in the forefront of many discussions. Do we really understand exactly what it is and who amongst the population can afford to have such an expensive health insurance policy? The Cadillac health insurance plan is defined more by the cost of the annual health insurance policy than the health care coverage.

Individuals or more specifically, union members who are enrolled in the Cadillac health insurance plans through their employers still have to pay a percentage out of pocket, usually with a split of 80% – 20%. This also carries through regardless of when it involved a medical health care physician visit or an unexpected hospital stay.

Where the differences are, involve the lower annual deductibles per individual and then again per family unit.  Benefits covered are more diverse than the average low cost health insurance plan and this makes it more affordable for the individual who carries a Cadillac health insurance plan to spend more time taking care of every ailment the individual is inflicted.

As with all affordable health insurance policies, the Cadillac health insurance plan also takes into account a subscriber’s age, gender, past health history, and current health history to determine the annual premium cost. The one factor that is very interesting is that for the amount of money being charged annually, the Cadillac health insurance plans are not much better than any other standard health insurance policy.

When you consider that these Cadillac health insurance plans are generally afforded to unionized employees you are talking about a group health insurance plan. Group health insurance plans are generally low cost health insurance plans because of the numerical amount of individuals who enroll into the health insurance plan.

Why would anyone want to enroll in an affordable health insurance plan at a cost of forty thousand dollars when you can purchase a group health insurance plan for more than half the cost? The basic health care coverage remains the same and the difference between the two health insurance policies is minimal.

Those corporations who continue to offer what is called a Cadillac health insurance plan will find a penalty coming down the road to the tune of forty percent of the cost of the insurance. Many union members who are involved will be forced to change their choice of health insurance plan to avoid the additional tax that is now attached. In all, there has been too much focus on a health insurance policy that is not much better than any other group affordable health insurance policy.