High Perceived Healthcare Costs Limit Coverage Access for Uninsured

High perceived healthcare costs are the biggest barrier to health insurance for the uninsured population, according to a survey conducted on behalf of Florida Blue.

The online survey polled uninsured Floridians 21 to 64 years old between October 6 and October 31, 2022. More than half of the respondents had been uninsured for three or more years or had never had health insurance.

The survey found that the main reason uninsured individuals did not have health insurance was the perceived cost of coverage. Almost 70 percent of people said they could not afford health insurance or believed it was too expensive.

Nearly two-thirds (65 percent) of respondents thought health insurance would cost between $50 and $500 per month, while 11 percent thought it would cost $10 or less.

This highlights the misconceptions the uninsured population has about health insurance, as four out of five people with Affordable Care Act (ACA) marketplace coverage have access to a plan for $10 or less per month after receiving financial assistance. Furthermore, over nine in 10 marketplace enrollees receive financial assistance.

Health insurance subsidies are available for immigrants, green card holders, and those with work or student visas, the press release noted. Additionally, the payer mentioned that receiving subsidies would not impact an individual’s immigration status after the Department of Homeland Security revoked public charge regulations in March 2021.

In addition to skipping out on health insurance, many uninsured people avoid the doctor unless they are sick, based on the belief that it will cost them too much money. Almost three in four respondents (72 percent) were unaware that most health plans cover preventive care, including regular checkups, colonoscopies, mammograms, and vaccinations, with no out-of-pocket costs required.

Individuals can select a health plan for 2023 on the ACA marketplace until the open enrollment period ends on January 15.

“At Florida Blue, we are dedicated to providing our communities with access to affordable, high-quality health care solutions,” Pat Geraghty, president and chief executive officer of Florida Blue, said in the press release.

“We realize that people are busy, tired, and everything costs more, but we are here to help them during these challenging times and make it easier than ever to switch plans or sign up for plans, especially during the open enrollment period that closes on January 15.”

According to the latest data from HHS, ACA marketplace enrollment continues to grow, with 11.5 million people signing up for coverage as of December 15, 2022. This marked an 18 percent increase or 1.8 million more enrollees from the same time in 2021.

The passage of the Inflation Reduction Act has helped increase access to affordable health plans on the ACA marketplace by extending the enhanced premium subsidies for three years.

Leveraging outreach methods, such as personalized phone calls and email reminders, could help boost awareness about marketplace plans and help uninsured individuals access affordable health insurance.