LANSING – Some element of cost –
whether the premium, deductibles, co-pays or other factors – was the primary
issue individuals considered when purchasing health insurance, reports a new
study by the Center for Healthcare Research and Transformation.
Cost factors were far more important
to persons buying individual coverage than they were for employer-based
coverage (although cost was also the primary factor for employer-based
coverage, though not by not as high a percentage).
The study by the University of
Michigan-based group found that 92 percent of individuals buying individual
coverage health insurance said some aspect of a policy’s cost was a critical
factor in making a decision.
And 88 percent said the cost of the
premium was a critical factor. In contrast, 72 percent of employers buying
health insurance said the premium cost was a critical factor.
Just 41 percent of the individuals
said issues such as the number of physicians in the health insurance network
was a critical factor. For employer-based plans, 50 percent said factors such
as the number of physicians were critical.
Also, some 18 percent of individuals
said they switched their primary care physician when acquiring their coverage,
which the report suggested individuals may be willing to accept a narrower
network in exchange for lower costs.
The results were based on survey
questions submitted by the center to the Michigan State University Institute
for Public Policy and Social Research as part of the autumn 2014 State of the
State survey.
This story was published by Gongwer
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