Some consumers may opt for fines rather than insurance Princeton Survey Research Associates has released the results of a new survey that suggests many people may be willing to pay fines rather than purchase health insurance coverage in the U.S. According to federal law, all U.S. citizens must have active health insurance policies beginning on January 1, 2014. Those failing to meet this requirement could face fines that could be as much as 1% of a person’s annual income. While the law is meant to institute financial penalties in January…
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Health insurance exchange awareness low among young adults
Survey shows that young adults lack awareness when it comes to health insurance The Commonwealth Fund, a private organization that promotes higher standards in health care and insurance, has released a new survey concerning health insurance awareness among young adults in the U.S. The Affordable Care Act is often highlighted as a major issue for young people throughout the country, many of whom do not currently have health insurance or receive coverage through their parents. With health insurance exchanges taking form in every state, young consumers may be at risk…
Read MoreHealth insurance awareness is low in the US
Survey shows consumers are confused about health insurance LIMRA, an insurance trade organization, has released the results of a recent survey it conducted within the U.S. The survey tasked consumers throughout the country to take a 10-question quiz concerning health insurance. The results paint a troubling picture for health insurance awareness within the country and suggest that efforts to educate consumers of the matter have fallen well short of their intended goals. With the Affordable Care Act inching closer to being fully realized, the lack of awareness among consumers may…
Read MoreHealth insurance exchanges still causing confusion among consumers
Officials and governments are struggling to provide the public with the information it needs about the marketplace. State government, healthcare, and health insurance officials are facing a considerable struggle to provide consumers with the education that they need regarding the requirements of the Affordable Care Act and the way in which the exchanges will be used when they open in October of this year. Millions of Americans will be using these marketplaces to shop for their coverage plans. These plans will be necessary to conform to the individual mandate, which…
Read MoreHealth insurance shows 84 million Americans uninsured or underinsured for a span of 2012
The survey revealed that there was a very large group that spent part of last year without coverage. According to research conducted by the Commonwealth Fund, there were 84 million people – that is, almost half of all American adults of working age – who either went insured for a span of time in 2012, or who had to pay medical costs that were so great that they were considered to be underinsured. The survey also discovered that the coverage level increased among young adults from 2010 to 2012. The…
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