2008's New Year's Resolution: Beef Up on Health Insurance; Less Than a Quarter Know Terms in Their Own Policy, According to eHealthInsurance StudyMOUNTAIN VIEW, CA, Jan 03, 2008 (MARKET WIRE via COMTEX News Network) -- As millions of Americans resolve to be healthier in the new year, a
new survey suggests consumers should add "understand my insurance" to
the list of health-oriented goals for 2008. According to a survey
commissioned by eHealth, Inc. (NASDAQ: EHTH), the parent company of
eHealthInsurance, most consumers lack a basic understanding of even
the most common health insurance terms as well as the particulars of
their own health insurance coverage. For example:
Only half of respondents were certain how much they paid for their
monthly health insurance premiums (50 percent) or annual deductibles (45
percent)
Less than a quarter of respondents (23 percent) reported that they
were very sure of what the terminology used in their health insurance
policy actually means
Even basic terms proved difficult, with few respondents reporting an
understanding of acronyms such as HMO (36 percent), PPO (20 percent) or HSA
(11 percent)
"It's clear Americans lack a basic understanding of health insurance
terms, which may prevent them from selecting the health plan best
suited to their individual needs," said Sam Gibbs, senior vice
president of eHealth, Inc. "But as costs increase and responsibility
for coverage shifts to the individual, these terms are becoming
increasingly relevant to consumers' daily lives and their
well-being."
The nationwide telephone survey of 1,010 U.S. adults asked
respondents to rate their understanding of health insurance terms and
their own policy. Among the findings:
71 percent know their plan's co-payment, and 60 percent know their
deductible
Even though PPOs are the most common type of health insurance offered
by U.S. employers(1), only a fifth (20 percent) know what PPO stands for
Women tend to be the healthcare decision makers for their families,
but one in 10 women admitted to having "no idea" what the terminology in
their policy means
Most Americans would rather find something else to do -- such as hit
the gym (52 percent) or prepare their taxes (30 percent) -- than read up on
their policy
Is There a Remedy?
In addition to gauging awareness, the survey asked respondents to
identify what would help increase their understanding of health
insurance terms and their policy. Among the most useful to consumers
are:
Side-by-side comparisons of policies (71 percent)
Live assistance with questions (65 percent)
A glossary of health insurance terms (57 percent)
The survey also indicated that Americans are comfortable seeking
information about health coverage online, with more than a third (37
percent) saying they would use the Internet for information about
health insurance if they weren't already assisted by an employer or
government program.
About eHealth, Inc.
eHealth, Inc. (NASDAQ: EHTH) is the parent company of
eHealthInsurance, the nation's leading online source of health
insurance for individuals, families and small businesses. Through the
company's website, www.ehealthinsurance.com, consumers can get quotes
from leading health insurance carriers, compare plans side by side,
and apply for and purchase health insurance. eHealthInsurance offers
more than 7,000 health insurance products underwritten by more than
160 of the nation's leading health insurance companies.
eHealthInsurance is licensed to sell health insurance in all 50
states and the District of Columbia. eHealthInsurance and eHealth are
registered trademarks of eHealthInsurance Services, Inc.
About the Survey
The survey, commissioned and paid for by eHealth, is based on
telephone interviews with 1,010 men and women 18 years of age and
older living in private households in the continental United States.
The survey was conducted from Nov. 16 through Nov. 19, 2007, using
Opinion Research Corporation as part of its Caravan(R) omnibus survey
service. Results of the survey have a margin of error of no more than
+/-3 percentage points at the 95 percent confidence level.
(1) Employers Favoring PPO-type Health Insurance Over Less Expensive
HMO-type Plans. AHRQ News and Numbers, July 26, 2006. Agency for
Healthcare Research and Quality, Rockville, MD.
http://www.ahrq.gov/news/nn/nn072606.htm
For more information about the eHealthInsurance survey, please contact:
Alexa Waltz
Fleishman-Hillard
(415) 318-4110
Email Contact
Sande Drew
EHealth, Inc.
(650) 210-3107
SOURCE: eHealth, Inc.
http://www2.marketwire.com/mw/emailprcntct?id=F8569FDEE77C7566
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