Americans Are Cutting Back on Other Monthly Expenses to Afford Healthcare Premiums
MOUNTAIN VIEW, Calif., Nov. 11, 2019 /PRNewswire/ -- Open enrollment is just kicking off and "survey says": insured Americans aren't impressed. HealthPocket, a free information source designed to help consumers find medical coverage, today released results of a pulse survey which found that many Americans are facing rising healthcare costs. In fact, more than 40% of those surveyed have found it difficult to pay their monthly insurance premium.
The survey also found that another 41% are needing to cut back on other monthly expenses in order to be able afford their monthly insurance premium. Interestingly, nearly 60% of those surveyed are on an employer provided plan.
However, the HealthPocket survey found that Americans are looking to elected officials to bring down costs, as 68% say that providing affordable healthcare should be a political issue. Healthcare is the second most important issue to those surveyed next to the economy in the upcoming Presidential Election.
Some other key findings include:
- 18% didn't know when open enrollment takes place.
- 21% didn't think the Affordable Care Act was in effect anymore.
- 62% pay under $250 a month on their health insurance premium.
- 25% don't think that Republicans, Democrats or the Private Sector have the answer to bring down healthcare costs.
- 40% of those insured are experiencing rising monthly healthcare premiums.
Entire survey results URL: https://www.healthpocket.com/healthcare-research/surveys/Americans-are-cutting-back
ABOUT HEALTHPOCKET:
HealthPocket is a free information source designed to empower consumers on health insurance. HealthPocket aggregates data from government, non-profit and private sources to increase transparency in the healthcare market in order for consumers to make wiser and more cost-effective healthcare decisions. Through HealthPocket's tools, consumers can compare the coverage, benefits, and costs of health insurance, including Medicare, ACA, and short-term health plans. HealthPocket, Inc. is a wholly owned subsidiary of Health Plan Intermediaries Holdings LLC (NASDAQ: HIIQ).
METHODOLOGY:
The results above were gathered through an online poll of 1000 Americans between the ages of 18-64. The poll was conducted in October 2019 and was weighted to get representative samples from each state based on population.
FORWARD LOOKING STATEMENTS:
HealthPocket, Inc. is a Silicon Valley-based technology company and wholly owned subsidiary of Health Plan Intermediaries Holdings LLC, part of the Health Insurance Innovations, Inc. family companies (NASDAQ: HIIQ). This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans and projections regarding new markets, products, services, growth strategies, anticipated trends in our business and anticipated changes and developments in the United States health insurance system and laws. Forward-looking statements are based on our current assumptions, expectations and beliefs are generally identifiable by use of words "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or similar expressions and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, among other things, our ability to maintain relationships and develop new relationships with health insurance carriers and distributors, our ability to retain our members, the demand for our products, the amount of commissions paid to us or changes in health insurance plan pricing practices, our ability to integrate our acquisitions, competition, changes and developments in the United States health insurance system and laws, and our ability to adapt to them, the ability to maintain and enhance our name recognition, difficulties arising from acquisitions or other strategic transactions, and our ability to build the necessary infrastructure and processes to maintain effective controls over financial reporting. These and other risk factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements are discussed in HIIQ's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) as well as other documents that may be filed by HIIQ from time to time with the Securities and Exchange Commission, which are available at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. You should not rely on any forward-looking statement as representing our views in the future. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.
SOURCE HealthPocket
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