March 26th, 2015
Most insured Americans pay health care deductibles and coinsurance, with cost-sharing rates that seem to be continually increasing. At the same time, millions of uninsured people face unpredictable and often high charges for medical care.
In other words, Americans have a significant amount of “skin in the game” when it comes to health care. That said, it’s not easy for most people to find out how much their health care will cost—let alone to find lower-priced care. The opacity of health care prices is one major reason for this. Despite the fact that so many Americans must pay for so much of their medical care out of pocket, easy access to accurate price information remains far from routine.
This month, Public Agenda, with support from the Robert Wood Johnson Foundation, released the results of a national survey finding that 56 percent of American adults say they have tried to find out their out-of-pocket costs (excluding a copay) before getting the care they needed, or have tried to find out how much their insurance would pay a doctor or hospital. In other words, despite the opacity of price information, the majority of Americans have at least tried to find out how much their care would cost.
The survey also found that the majority of Americans do not believe that higher prices are typically a sign of better quality. Together, these findings suggest that Americans are open to looking for better-value care. Read the rest of this entry »