Are you part of the 47% of insured Americans that can immediately pay off a $500 medical bill? How about 25% that can pay off a $1500 bill? Or, are you in the percent that will put it on a credit card, borrow, or pay it over time?
This poll from the Kaiser Family Foundation (taken April 8-14, 2015 among 1506 adults. +/- percent point margin of error) also found that about 2 out of 3 people find it difficult to know how much specific doctors or hospitals charge for medical treatments or procedures.
The poll found that most people are overconfident about their ability to pay a medical bill without strain.
When choosing a health insurance plan, are you taking into consideration your health, approximate yearly doctor visits, the possibility of surgery, as well as, unexpected occurrences? After all, who wants to have a $19,000 medical bill for an unexpected appendix surgery?
Are you one of the 3% that use price when choosing a physician? Or, are you the 1 in 5 that use quality ratings when choosing a hospital, doctor, or insurance company? Most people do not take into account the information on quality ratings on hospitals that the federal government publishes.
How do you pick your insurance carrier and providers? Do you have an agent that guides you through the process?
When unsure, reach out to an insurance professional that will answer your questions and guide you.
If you want to read the original post from The Kaiser Foundation, check out Few Consumers are Using Quality, Price Information to Make Health Decisions.
What's your opinion?