Consumers confused, overwhelmed by healthcare finance choices, survey finds

Survey results released this week show that Americans are deeply worried about increases in out-of-pocket expenses for healthcare, and that they have little confidence in making healthcare decisions (Source: “49% Don't Understand Health Plan Costs,” HealthLeaders Media News, Sept. 30, 2016).

The "Moments of Truth" research report, from benefit-administration company Alegeus, is derived from a survey of more than 4,000 U.S. healthcare consumers. It confirms that Americans are deeply worried about increases in out-of -pocket expenses for healthcare, with 66 percent of consumers saying that "planning for out-of-pocket costs" was the most challenging and stressful aspect of managing their healthcare.

Just as health plans are gearing up for open enrollment, consumers are struggling to understand their options and worried about how to pay high deductibles and other out-of-pocket expenses, the report suggests.

Respondents also said they had little confidence in making healthcare decisions, with 69 percent saying that deciphering healthcare jargon is a significant barrier to decision-making. Forty-nine percent of consumers said they don't understand the cost implications of different health plan choices.