Consumers Are in the Dark about Health Care Options

With the March 31s open enrollment deadline looming for the exchanges, many consumers still don’t have basic knowledge of insurance costs, services (including prescription coverage), and penalties for remaining uninsured, according to a study by Phoenix Healthcare. Steve Wakefield, president of Phoenix Healthcare said that consumers’ lack of awareness gives pharmaceutical companies and insurers the opportunity to market and educate the uninsured and newly insured so that they become more informed and healthier consumers. “One thing is clear; the organization that properly educates the consumer has the best chance at winning their business,” he said. The study reveals the following:

• 50% of the uninsured have not looked into what it would cost to get health insurance.
• Most of the uninsured are not aware of the free services they would get with new insurance; only half are aware that some prescription medications are free under the ACA.
• When informed about coverage options and the tax penalty, 67% of the uninsured say they are more likely to purchase health insurance this year than pay the penalty.
• While about 35% of the U.S. population suffers from diabetes or pre-diabetes, only 7% of the uninsured surveyed are treated for this potentially life-threatening condition.

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Last Updated 12/01/2021

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