In a continuing effort to stem the tide of rising health care costs over the years, employers have increasingly asked employees and their families to take a more active role in their health care. With the advent of consumer-directed/high-deductible health plans and their associated accounts -- health savings accounts (HSAs) or health reimbursement accounts (HRAs) -- has come a growing expectation that, as employees are asked to shoulder more of the cost of their care, they will become more thoughtful about how and when they use their coverage.
Unfortunately, this expectation has generally not been met.
A PolicyGenius survey of 2,000 consumers revealed that 96 percent of Americans couldn’t define basic health care terms, including "deductible," "co-insurance," "co-pay," and "out-of-pocket maximum."
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
