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
The essence of cloud computing is that all consumable IT resources are delivered as services. In his session at 15th Cloud Expo, Yung Chou, Technology Evangelist at Microsoft, demonstrated the concepts and implementations of two important cloud computing deliveries: Infrastructure as a Service (IaaS) and Platform as a Service (PaaS). He discussed from business and technical viewpoints what exactly they are, why we care, how they are different and in what ways, and the strategies for IT to transi...
All organizations that did not originate this moment have a pre-existing culture as well as legacy technology and processes that can be more or less amenable to DevOps implementation. That organizational culture is influenced by the personalities and management styles of Executive Management, the wider culture in which the organization is situated, and the personalities of key team members at all levels of the organization. This culture and entrenched interests usually throw a wrench in the work...
The Internet of Things is clearly many things: data collection and analytics, wearables, Smart Grids and Smart Cities, the Industrial Internet, and more. Cool platforms like Arduino, Raspberry Pi, Intel's Galileo and Edison, and a diverse world of sensors are making the IoT a great toy box for developers in all these areas. In this Power Panel at @ThingsExpo, moderated by Conference Chair Roger Strukhoff, panelists discussed what things are the most important, which will have the most profound e...
Keeping pace with advancements in software delivery processes and tooling is taxing even for the most proficient organizations. Point tools, platforms, open source and the increasing adoption of private and public cloud services requires strong engineering rigor - all in the face of developer demands to use the tools of choice. As Agile has settled in as a mainstream practice, now DevOps has emerged as the next wave to improve software delivery speed and output. To make DevOps work, organization...
Niagara Networks exhibited at the 19th International Cloud Expo, which took place at the Santa Clara Convention Center in Santa Clara, CA, in November 2016. Niagara Networks offers the highest port-density systems, and the most complete Next-Generation Network Visibility systems including Network Packet Brokers, Bypass Switches, and Network TAPs.
Virtualization over the past years has become a key strategy for IT to acquire multi-tenancy, increase utilization, develop elasticity and improve security. And virtual machines (VMs) are quickly becoming a main vehicle for developing and deploying applications. The introduction of containers seems to be bringing another and perhaps overlapped solution for achieving the same above-mentioned benefits. Are a container and a virtual machine fundamentally the same or different? And how? Is one techn...
Extreme Computing is the ability to leverage highly performant infrastructure and software to accelerate Big Data, machine learning, HPC, and Enterprise applications. High IOPS Storage, low-latency networks, in-memory databases, GPUs and other parallel accelerators are being used to achieve faster results and help businesses make better decisions. In his session at 18th Cloud Expo, Michael O'Neill, Strategic Business Development at NVIDIA, focused on some of the unique ways extreme computing is...
My team embarked on building a data lake for our sales and marketing data to better understand customer journeys. This required building a hybrid data pipeline to connect our cloud CRM with the new Hadoop Data Lake. One challenge is that IT was not in a position to provide support until we proved value and marketing did not have the experience, so we embarked on the journey ourselves within the product marketing team for our line of business within Progress. In his session at @BigDataExpo, Sum...
Web Real-Time Communication APIs have quickly revolutionized what browsers are capable of. In addition to video and audio streams, we can now bi-directionally send arbitrary data over WebRTC's PeerConnection Data Channels. With the advent of Progressive Web Apps and new hardware APIs such as WebBluetooh and WebUSB, we can finally enable users to stitch together the Internet of Things directly from their browsers while communicating privately and securely in a decentralized way.
Information technology (IT) advances are transforming the way we innovate in business, thereby disrupting the old guard and their predictable status-quo. It’s creating global market turbulence. Industries are converging, and new opportunities and threats are emerging, like never before. So, how are savvy chief information officers (CIOs) leading this transition? Back in 2015, the IBM Institute for Business Value conducted a market study that included the findings from over 1,800 CIO interviews ...
"We host and fully manage cloud data services, whether we store, the data, move the data, or run analytics on the data," stated Kamal Shannak, Senior Development Manager, Cloud Data Services, IBM, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
What sort of WebRTC based applications can we expect to see over the next year and beyond? One way to predict development trends is to see what sorts of applications startups are building. In his session at @ThingsExpo, Arin Sime, founder of WebRTC.ventures, will discuss the current and likely future trends in WebRTC application development based on real requests for custom applications from real customers, as well as other public sources of information,
Whether you like it or not, DevOps is on track for a remarkable alliance with security. The SEC didn’t approve the merger. And your boss hasn’t heard anything about it. Yet, this unruly triumvirate will soon dominate and deliver DevSecOps faster, cheaper, better, and on an unprecedented scale. In his session at DevOps Summit, Frank Bunger, VP of Customer Success at ScriptRock, discussed how this cathartic moment will propel the DevOps movement from such stuff as dreams are made on to a practic...
Interoute has announced the integration of its Global Cloud Infrastructure platform with Rancher Labs’ container management platform, Rancher. This approach enables enterprises to accelerate their digital transformation and infrastructure investments. Matthew Finnie, Interoute CTO commented “Enterprises developing and building apps in the cloud and those on a path to Digital Transformation need Digital ICT Infrastructure that allows them to build, test and deploy faster than ever before. The int...