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52% Don't Have Enough Money Saved To Cover Medical Costs If They Contract COVID-19

MOUNTAIN VIEW, Calif., April 10, 2020 /PRNewswire/ -- Not enough savings and afraid of the cost of contracting COVID-19. A healthinsurance.com survey finds 52% don't have enough money saved to cover COVID-19 medical costs. Unveiling the financial status of many Americans', 46% would think twice about seeking medical care right now because of cost. Price transparency is also a major concern: 90% think coronavirus medical care prices should be available like prices on a restaurant menu.


But it's not just medical bills Americans are worried about. 23% of respondents said they won't be able to pay bills like utilities or mortgage payments this month - a bleak response that aligns with the 24% that reported losing their job due to the coronavirus pandemic.

When asked about health insurance coverage, 9% of respondents reported losing their health insurance during this pandemic. While more are bracing for the potential impact of unemployment, 56% said they don't know what their health insurance options are should they lose their coverage.

Healthinsurance.com also asked respondents about medical care while social distancing:

  • 47% say they intend on using telemedicine during this health crisis.
  • Nearly one-third said they received correspondence from their doctor or health insurance company about telemedicine services.
  • Still, 85% were not aware you can just purchase a telemedicine plan.

One thing mostly everyone can agree on: Our frontline healthcare professionals are heroes. In fact, 87% of respondents thought healthcare workers on the frontlines deserve a "bonus" from the federal government.           

View the full survey results here: https://www.healthinsurance.com/learning-center/article/coronavirus-economic-impact

The above results were gathered through an online poll of more than 1,000 Americans between the ages of 18-64. The poll was conducted from April 3, 2020 to April 7, 2020, gleaning representative samples from each state based on population.

Healthinsurance.com combines the nation's leading health insurance carriers and advanced technology to offer a suite of private insurance solutions and Medicare plan options. In just a few clicks, our website provides consumers the ability to access powerful online comparison tools and educational resources that enable efficient self-guided navigation of available health insurance and Medicare options. For more information, visit www.healthinsurance.com.

Healthinsurance.com LLC is part of the Benefytt Technologies family companies (NASDAQ: BFYT). This press release contains "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements other than historical fact, and may include statements relating to goals, plans and projections regarding new markets, products, services, growth strategies, anticipated trends in our business and anticipated changes and developments in the United States health insurance system and laws. Forward-looking statements are based on our current assumptions, expectations and beliefs are generally identifiable by use of words "may," "might," "will," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential" or "continue," or similar expressions and involve significant risks and uncertainties that could cause actual results, developments and business decisions to differ materially from those contemplated by these statements. These risks and uncertainties include, among other things, our ability to maintain relationships and develop new relationships with health insurance carriers and distributors, our ability to retain our members, the demand for our products, the amount of commissions paid to us or changes in health insurance plan pricing practices, our ability to integrate our acquisitions, competition, changes and developments in the United States health insurance system and laws, and our ability to adapt to them, the ability to maintain and enhance our name recognition, difficulties arising from acquisitions or other strategic transactions, and our ability to build the necessary infrastructure and processes to maintain effective controls over financial reporting. These and other risk factors that could cause actual results to differ materially from those expressed or implied in our forward-looking statements are discussed in HIIQ's most recent Annual Report on Form 10-K filed with the Securities and Exchange Commission (SEC) as well as other documents that may be filed by HIIQ from time to time with the Securities and Exchange Commission, which are available at www.sec.gov. Any forward-looking statement made by us in this press release is based only on information currently available to us and speaks only as of the date on which it is made. You should not rely on any forward-looking statement as representing our views in the future. We undertake no obligation to publicly update any forward-looking statement, whether written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise.


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SOURCE healthinsurance.com