Survey: Americans worry over medical expenses

A recent survey found a high percentage of Americans question their ability to pay...

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According to a recent survey from the Center for Public Affairs Research one in four privately insured United States adults say they do not have much confidence in their ability to pay for a major, unexpected medical expense.

The poll also found the biggest financial concerns were among people with plans that require patients to pay a significant share of their medical bills each year before insurance kicks in.

These types of plans already represented a growing share of employer-sponsored coverage, and now they’re also a mainstay of the new health insurance exchanges created by the Affordable Care Act.

The poll found that people are responding to the hit on their wallets in ways that may not help their health:
  • 19% of all privately insured adults said they did not go to the doctor when they were sick or injured, because of costs. Among those with high-deductible plans, the figure was 29%.
  • 17% skipped a recommended test or treatment; it was 23% among those with high-deductible plans.
  • 18% of all adults went without a physical exam or other preventive care, 24% among those with high-deductible plans.
Health and Human Services Secretary Sylvia Mathews Burwell said last week that part of the problem is that many consumers don’t understand what they are buying when they purchase health insurance, or how to use their plan once they get their cards in the mail.

For example, there should be no reason to skip routine preventive care, since the health care law requires insurers to provide it at no charge to the patient.
“People need to understand how to use their health care,” said Burwell. “We need to spend time educating people.”

Indeed, the poll showed that a majority of those with private insurance, 52%, would rather pay a higher premium and limit out-of-pocket costs than lower their premiums and potentially face higher out-of-pocket charges.

Many consumers said they are making financial trade-offs to pay medical bills:
  • Overall, 33% said they cut back on entertainment; it was 43% among those with high-deductible plans.
  • 18% said they used up all or most of their savings, 24% among those with high-deductible plans.
  • 19% said they dialed down their contributions for retirement savings; it was 28% for people with high-deductible plans
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