Wide health insurance knowledge gap costly to American workers

Insurance Forums Staff

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Wide health insurance knowledge gap costly to American workers

Survey from Justworks finds that 72% of employed adults who pick their insurance wish someone would tell them which health plan is best for them.
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This is not surprising . . . nor is it restricted to just health insurance . . . the same applies to disability (long and short), dental, vision and . . . retirement plans.

As plans become more complicated, employees are given more choices AND more flexibility, they almost invariably make poor choices. They have no clue about even the basics . . . many have no idea what their major med deductible or OOP is . . . they don't know how to check par vs non-par providers online . . . if they even think about checking networks they call the carrier. Denied claims are rarely appealed . . . they often pay the bill and go on. Except when they don't . . . and then they ignore the bill until it goes into collections.

Hardly anyone understands managed care and it doesn't stop when they retire. They still do not understand MAPD and end up repeating the same mistakes . . . paying bills for denied claims that are never appealed. They have become so conditioned to being bounced around by the claim system they believe that's the way it has been and always will be.