64% of Uninsured Don't Know if They Will Buy Health Insurance

SAN FRANCISCO, June 3, 2013 /PRNewswire/ -- Almost two-thirds of uninsured Americans have not yet decided if they will purchase health insurance by the Jan. 1 deadline, according to a new survey released today by InsuranceQuotes.com. Beginning on Jan. 1, uninsured Americans will be forced to pay a penalty of either $95 or one percent of income (whichever is greater).

The Affordable Care Act (often known as "Obamacare") will offer tax credits to reduce the cost of health insurance, but InsuranceQuotes.com found that fifty-eight percent of Americans are not sure if they will be eligible. Low-income households have the potential to benefit the most from health subsidies, but those with annual income under $30,000 are the least likely to be aware of their eligibility (68% are not certain).

InsuranceQuotes.com observed significant financial worries concerning health insurance. For example, more than three in five uninsured Americans say the main reason they currently lack health insurance is because they can't afford it. And 61% of Americans are concerned that the Affordable Care Act will cause health care costs to go up while only 26% predict a decrease. Fewer than half of Americans say more people will enjoy better health thanks to the Affordable Care Act.

"Even though the new health care law has been hotly debated for years, a shocking number of Americans are still unsure how it will affect them," said Laura Adams, senior insurance analyst, InsuranceQuotes.com. "Uninformed consumers risk missing key deadlines; the health exchanges will begin accepting applications in fewer than four months."

The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here: http://www.insurancequotes.com/health-insurance-for-uninsured

PSRAI obtained telephone interviews with a nationally representative sample of 1,001 adults living in the continental United States. Telephone interviews were conducted by landline (501) and cell phone (500, including 235 without a landline phone). Interviews were done in English by Princeton Data Source from May 2-5, 2013. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.6 percentage points.

Results based on the uninsured include 152 additional interviews conducted from May 9-12, 2013 for a total of 286 adults who reported that they did not have health insurance. The margin of sampling error for uninsured adults is plus or minus 6.5 percentage points.

About InsuranceQuotes.com:

InsuranceQuotes.com provides consumers with a free, easy way to shop for and compare insurance quotes online, and delivers information about auto, home, health and life insurance and other types of insurance.

For more information, visit InsuranceQuotes.com.

InsuranceQuotes.com is part of Bankrate Insurance. Other Bankrate Insurance companies include NetQuote.com and InsureMe.com.

For More Information:

Ted Rossman
Public Relations Manager, Bankrate, Inc.
[email protected] 
917-368-8635

SOURCE InsuranceQuotes.com