Jennifer Fitzgerald of PolicyGenius joined host Michael Finney to share concerning survey results that prove just how confused the American public is on the Affordable Care Act, also referred to as Obamacare, and health insurance overall.
The online insurance shopping platform, PolicyGenius, surveyed thousands of customers to find out consumers’ level of understanding when it came to health care. Unfortunately, the survey results confirmed that Americans are shockingly uninformed on the topic.
According to Fitzgerald, only 4 percent of Americans were able to accurately define four basic insurance expenses — deductible, copayment, coinsurance and out-of-pocket maximum.
Survey results also found that 76 percent of Americans are unaware that open enrollment is currently taking place for the Affordable Care Act. Eighteen percent of Americans surveyed thought the effort to repeal and replace the ACA had been successful.
Even one of the most publicized and widely praised aspects of the ACA, allowing children to remain on their parents plan until the age of 26, was unknown to a quarter of Americans. Furthermore, 78 percent of Americans were unable to identify the essential health benefits that their health insurance is required to cover under the ACA.
Listen to the full segment below for additional information.