urvey reveals significant underinsurance among working-age americans in 2023

A recent survey conducted by the Commonwealth Fund reveals that a significant number of insured adults in America are classified as underinsured. These individuals face barriers to accessing affordable healthcare, despite having health coverage for the entire year.

Underinsured Americans and Financial Strain

The survey highlights the financial strain experienced by many Americans, even with insurance in place. The majority of underinsured individuals obtained their coverage through employer-sponsored plans, while others were enrolled in Medicaid or Medicare, or had purchased plans through individual markets or healthcare marketplaces.

Implications of Being Underinsured

Being underinsured has profound implications, as many individuals are unable to afford necessary medical care. The survey found that a significant percentage of underinsured adults avoided seeking needed healthcare and carried medical or dental debt. The consequences of underinsurance extend beyond financial stress and can lead to worsening health outcomes. Delaying care due to cost can have serious implications, particularly for those with chronic health issues or ongoing medical needs. The survey also reveals that mental health care is often postponed due to cost concerns.

Medical Debt and its Burden

Medical debt is a growing burden, particularly among underinsured individuals. Many are currently paying off medical debt, which can have lasting financial consequences. The survey also highlights disparities in medical debt among different income groups.

Policy Recommendations to Alleviate Underinsurance and Medical Debt

The Commonwealth Fund has proposed several policy recommendations to alleviate the burden of underinsurance and medical debt, including:

  • Extension of enhanced marketplace premium tax credits
  • Longer periods of continuous Medicaid eligibility
  • Establishment of an auto-enrollment mechanism for comprehensive health coverage
  • Lowering deductibles and out-of-pocket costs in marketplace plans
  • Adjusting premiums and cost-sharing based on income levels

These policy recommendations aim to create a more equitable healthcare system that prioritizes access and affordability for all Americans.

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