Around 4 in 10 Americans say they don't understand what their insurance plan covers, according to a new survey from the Pharmaceutical Research and Manufacturers of America.
The pharmaceutical company association's patient experience survey, published Sept. 11, surveyed over 5,000 Americans, 4,720 with insurance, about their experiences accessing healthcare.
The report highlighted confusion among consumers about what their health insurance covers. Of the respondents, 22 percent said they have trouble navigating, anticipating and understanding their insurance. These numbers were higher among people in poor or average health, with a mental health condition, covered by a high deductible plan or who had switched insurers in the last year.
The respondents valued lower out-of-pocket costs and predictability from insurance, with 60 percent saying they would pay higher premiums for more coverage from their insurer.
The survey also found that 30 percent of insured Americans face some kind of barrier to care, like unaffordable out-of-pocket costs or a lack of savings to cover emergency medical expenses. These numbers were higher among different populations, with 37 percent of women respondents, 37 percent of Hispanic respondents, 38 percent of Black respondents and 42 percent of LGBTQ respondents saying they faced financial barriers to receiving healthcare.
Read the full report here.