In the past, we lived in a system where insurance covered most of our healthcare expenses. I remember the days when insurance paid around 80 percent of the usual and customary charges, leaving the patient responsible for just 20 percent. This system was beneficial because it ensured that people had some investment in their own healthcare. It's a well-known fact that people tend to undervalue free services. This co-payment structure maintained a balance where healthcare wasn't completely free, but it was affordable and accessible.

However, over time, insurance companies began to pull the wool over our eyes. They started reducing the scope of what they would cover, subtly at first, but increasingly more over the years. Alongside this, they steadily raised premiums annually, often citing inflation as the reason. This tactic gradually eroded the financial security that insurance once provided.

As if this wasn’t enough, deductibles also began to climb. This meant that patients had to pay more out of pocket before their insurance coverage would kick in. The combined effect of rising premiums and deductibles, coupled with reduced coverage, has placed a significant financial burden on individuals. What was once a relatively balanced and supportive system has become a minefield of hidden costs and unexpected expenses.

This shift has had profound implications for the accessibility and affordability of healthcare. Many people now find themselves struggling to afford the care they need, even with insurance. The promise of insurance providing a safety net has been undermined, leaving many feeling deceived and financially strained.

Alejandro Badia is an orthopedic surgeon.

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