Welcome!

News Feed Item

Ipsos/Amino Poll: 63% of Americans Think a Large Medical Bill That They Can't Afford is Worse Than or Equal to a Serious Illness

SAN FRANCISCO, CA -- (Marketwired) -- 03/21/17 -- Amino, a healthcare transparency company, today released the results of a poll conducted by global market research firm Ipsos that identifies Americans' sentiments and behaviors around rising healthcare costs in today's current economic and political climate.

The findings reveal that Americans are concerned about healthcare costs and coping in a variety of ways, some of which might not be sustainable in the long run (for instance, avoiding the doctor). However, almost half of Americans are currently budgeting at least $50 per month for healthcare so there's hope that the category could become a more prominent personal finance issue as better and more accessible transparency tools emerge.

The following findings are from an Ipsos poll conducted February 23 - 24, 2017 on behalf of Amino. For the survey, a nationally representative sample of 1,006 U.S. adults over the age of 18 was interviewed online, in English. Additional methodology can be found below.

Key Findings

As Healthcare Costs Rise, So Do Americans' Fear and Confusion

  • Three quarters of Americans (74%) say their healthcare costs have gone up in the past few years.
  • More than half of Americans (53%) perceive being diagnosed with a serious illness as being just as bad as receiving a large medical bill that they can't afford. An additional 10% think receiving a large medical bill is actually worse than a serious illness.
  • Unemployed people (63%), people over 55 years old (63%), and lower income earners (60%) are the most likely groups to find a large medical bill more or equally detrimental to being diagnosed with a serious illness.
  • Alongside fear, confusion: 64% of Americans want to lower their healthcare costs, but don't know how.

The Majority of Americans Have Received Medical Bills They Couldn't Afford

  • Over half of Americans (55%) say they have received a medical bill that they did not have funds set aside to pay at some point.
    • Women (62%) are more likely to report that they have received a medical bill they couldn't afford, as compared to (47%) of men.
  • Today, more than one third of Americans (37%) say they could not afford an unexpected medical bill for more than $100 without going into debt.
    • Nearly half of women (44%) would go into debt if they received an unexpected medical bill of $100 or more, as compared to one in four men (27%).
  • For context, here are the cost of common procedures based on Amino's cost estimates:
    • New patient office visit: $155
    • Allergy skin tests: $667
    • Broken foot repair (non-surgical): $553
  • With the cost of healthcare rising, fewer than one in four Americans (23%) are able to cover an unexpected medical bill more than $2,000.

Tactics Americans Are Using to Avoid High Medical Bills

  • When it comes to avoiding high medical bills, maintaining good insurance coverage (39%) is the top strategy used by Americans.
    • Yet roughly half (49%) agree that their insurance doesn't provide them with enough information to determine their healthcare costs. Millennials (57%) are among the most likely to agree.
    • And less than a third (32%) currently contribute to a health savings account (HSA) that allows them to save money tax-free for medical expenses.
  • More than half of people (55%) call ahead to ask medical providers about the cost of treatment before booking an appointment or procedure.
  • One in five (19%) report that not going to the doctor is their main strategy to avoid paying high medical bills.
    • More than half of people without insurance (56%) avoid the doctor altogether.
    • Millennials (27%) are also a group more likely to avoid costs by avoiding the doctor.
  • But Americans aren't trying everything to lower their bills, as only 7% of people would research doctors, facilities or costs ahead of time to avoid high bills.

Healthcare In the American Household Budget

  • Less than half (46%) of Americans budget at least $50 per month for healthcare. They are more likely to be budgeting at least $50 monthly for food (79%), transportation (59%) and debt payments (49%)
  • Those who have received an unexpected medical bill in the past are significantly more likely to budget for their health and medical expenses (54%) than those who have not (37%).
  • For those who do budget for their healthcare, 34% save for doctor visits and services, 28% for prescription drugs, and 28% insurance premiums.
  • Americans are most concerned about the cost of major surgeries or emergencies (33%), yet only 15% are setting aside funds for such unexpected health costs. Insurance premiums (24%) are also top ranked in terms of Americans' concerns around rising healthcare costs.
  • Neglecting to save for medical expenses may be partially explained by lack of awareness. For example, the median network rate (what a patient + their insurance company would pay combined) to fix a broken arm in America is $1,100, yet most Americans (46%) estimate it costs less than $500. Only 7% of Americans estimated within the correct price range.

For further information on the survey, please visit here or Amino's blog.

About Amino
Amino is a healthcare transparency company that connects everyone to better, more affordable care. Only Amino's data covers nearly every doctor in America and billions in healthcare spending. Amino's free consumer products deliver personalized results to help people easily estimate their costs and book appointments with doctors. The company is based in San Francisco and is backed by Accel Partners, Charles River Ventures, Rock Health, and notable individual investors.

About Ipsos
Ipsos is an independent market research company controlled and managed by research professionals. Founded in France in 1975, Ipsos has grown into a worldwide research group with a strong presence in all key markets. Ipsos ranks third in the global research industry.
With offices in 87 countries, Ipsos delivers insightful expertise across five research specializations: brand, advertising and media, customer loyalty, marketing, public affairs research, and survey management.

Ipsos has been listed on the Paris Stock Exchange since 1999 and generated global revenues of EUR 1,785.3 million ($1,981 million) in 2015. Visit www.ipsos.com to learn more about Ipsos' offerings and capabilities.

Survey Methodology
These are findings from an Ipsos poll conducted February 23 - 24, 2017 on behalf of Amino. For the survey, a sample of 1,006 U.S. adults over the age of 18 was interviewed online, in English. The precision of Ipsos online polls is measured using a credibility interval. In this case, the poll has a credibility interval of plus or minus 3.5 percentage points for all respondents surveyed.

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
Cloud promises the agility required by today’s digital businesses. As organizations adopt cloud based infrastructures and services, their IT resources become increasingly dynamic and hybrid in nature. Managing these require modern IT operations and tools. In his session at 20th Cloud Expo, Raj Sundaram, Senior Principal Product Manager at CA Technologies, will discuss how to modernize your IT operations in order to proactively manage your hybrid cloud and IT environments. He will be sharing bes...
Artificial intelligence, machine learning, neural networks. We’re in the midst of a wave of excitement around AI such as hasn’t been seen for a few decades. But those previous periods of inflated expectations led to troughs of disappointment. Will this time be different? Most likely. Applications of AI such as predictive analytics are already decreasing costs and improving reliability of industrial machinery. Furthermore, the funding and research going into AI now comes from a wide range of com...
SYS-CON Events announced today that GrapeUp, the leading provider of rapid product development at the speed of business, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Grape Up is a software company, specialized in cloud native application development and professional services related to Cloud Foundry PaaS. With five expert teams that operate in various sectors of the market acr...
In this presentation, Striim CTO and founder Steve Wilkes will discuss practical strategies for counteracting fraud and cyberattacks by leveraging real-time streaming analytics. In his session at @ThingsExpo, Steve Wilkes, Founder and Chief Technology Officer at Striim, will provide a detailed look into leveraging streaming data management to correlate events in real time, and identify potential breaches across IoT and non-IoT systems throughout the enterprise. Strategies for processing massive ...
SYS-CON Events announced today that Ayehu will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara California. Ayehu provides IT Process Automation & Orchestration solutions for IT and Security professionals to identify and resolve critical incidents and enable rapid containment, eradication, and recovery from cyber security breaches. Ayehu provides customers greater control over IT infras...
Internet of @ThingsExpo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with 21st Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world. The Internet of Things (IoT) is the most profound change in personal and enterprise IT since the creation of the Worldwide Web more than 20 years ago. All major researchers estimate there will be tens of billions devic...
You know you need the cloud, but you’re hesitant to simply dump everything at Amazon since you know that not all workloads are suitable for cloud. You know that you want the kind of ease of use and scalability that you get with public cloud, but your applications are architected in a way that makes the public cloud a non-starter. You’re looking at private cloud solutions based on hyperconverged infrastructure, but you’re concerned with the limits inherent in those technologies.
SYS-CON Events announced today that MobiDev, a client-oriented software development company, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place October 31-November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. MobiDev is a software company that develops and delivers turn-key mobile apps, websites, web services, and complex software systems for startups and enterprises. Since 2009 it has grown from a small group of passionate engineers and business...
Today we can collect lots and lots of performance data. We build beautiful dashboards and even have fancy query languages to access and transform the data. Still performance data is a secret language only a couple of people understand. The more business becomes digital the more stakeholders are interested in this data including how it relates to business. Some of these people have never used a monitoring tool before. They have a question on their mind like “How is my application doing” but no id...
What's the role of an IT self-service portal when you get to continuous delivery and Infrastructure as Code? This general session showed how to create the continuous delivery culture and eight accelerators for leading the change. Don Demcsak is a DevOps and Cloud Native Modernization Principal for Dell EMC based out of New Jersey. He is a former, long time, Microsoft Most Valuable Professional, specializing in building and architecting Application Delivery Pipelines for hybrid legacy, and cloud ...
With major technology companies and startups seriously embracing Cloud strategies, now is the perfect time to attend 21st Cloud Expo October 31 - November 2, 2017, at the Santa Clara Convention Center, CA, and June 12-14, 2018, at the Javits Center in New York City, NY, and learn what is going on, contribute to the discussions, and ensure that your enterprise is on the right path to Digital Transformation.
21st International Cloud Expo, taking place October 31 - November 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA, will feature technical sessions from a rock star conference faculty and the leading industry players in the world. Cloud computing is now being embraced by a majority of enterprises of all sizes. Yesterday's debate about public vs. private has transformed into the reality of hybrid cloud: a recent survey shows that 74% of enterprises have a hybrid cloud strategy. Me...
Join us at Cloud Expo June 6-8 to find out how to securely connect your cloud app to any cloud or on-premises data source – without complex firewall changes. More users are demanding access to on-premises data from their cloud applications. It’s no longer a “nice-to-have” but an important differentiator that drives competitive advantages. It’s the new “must have” in the hybrid era. Users want capabilities that give them a unified view of the data to get closer to customers and grow business. The...
"We focus on composable infrastructure. Composable infrastructure has been named by companies like Gartner as the evolution of the IT infrastructure where everything is now driven by software," explained Bruno Andrade, CEO and Founder of HTBase, in this SYS-CON.tv interview at 20th Cloud Expo, held June 6-8, 2017, at the Javits Center in New York City, NY.
SYS-CON Events announced today that Cloud Academy named "Bronze Sponsor" of 21st International Cloud Expo which will take place October 31 - November 2, 2017 at the Santa Clara Convention Center in Santa Clara, CA. Cloud Academy is the industry’s most innovative, vendor-neutral cloud technology training platform. Cloud Academy provides continuous learning solutions for individuals and enterprise teams for Amazon Web Services, Microsoft Azure, Google Cloud Platform, and the most popular cloud com...