John is 55 years old. This year, John saw his in-network primary care provider (a family practice physician). His primary care provider ordered a colonoscopy. John had the colonoscopy at an in-network ambulatory surgery center. No abnormalities were found. John has a chronic skin condition. Each year, he sees his dermatologist in order to have his prescription renewed. The prescription for his daily medication is a common antibiotic for which his physician orders the generic equivalent. He is a former high-school and college quarterback. He currently exercises 60 to 90 minutes per day, alternating daily between cardiovascular and free-weight routines. Last year, his hip started to catch sporadically. He saw a physical therapist twice. The physical therapist gave him two sets of exercises to strengthen the muscles supporting the hip joint.

Should John change his health insurance from the one on the healthcare insurance identification card to a high-deductible plan with a health savings account? Why or why not?

Information about John’s individual coverage that you will need, but that is not available on the card includes the following:

Premium: $21.72 per month (employer pays $197.45 per month)

Benefit year deductible: $700 for in-network; $1,400 for out-of-network

Cost of visit to primary care physician: $79

Colonoscopy facility costs to John after insurance payment: $664 (total was $2,346)

Colonoscopy physician costs to John after insurance payment: $400 (total was $667)

Colonoscopy anesthesiologist costs: $100 (total was $250)

Cost of visit to dermatologist: $85

Cost of visit to physical therapist: $52

John lives in your state and zip code.

John would like to pay about $1,000 for his deductible.

The question to be answered within your essay is: Should John change his health insurance from the one on the healthcare insurance identification card to a high-deductible plan with a health savings account? Why or why not?