![]() This compared to 74 percent who were confident that they “definitely understand” what a deductible is 67 percent who said they knew what out-of-pocket maximum means and just 47 percent who claimed to understand coinsurance.īut here’s the rub: The percentage of people who could actually recite the correct definition was just 52 percent for copay, 50 percent for deductible, 42 percent for out-of-pocket maximum and 22 percent for coinsurance. A healthy 83 percent of respondents were confident that they “definitely understand” what a copay is, maybe because they have to physically hand money to a receptionist. Policygenius surveyed 2,000 Americans and asked them a seemingly simple question: Can you define four basic health insurance terms? Deductible, coinsurance, copay and out-of-pocket maximum. But are the consumers to blame, or is the health care industry itself? In this exclusive excerpt from his new book, Benco Dental’s former interim brand-and-communications director clamors for clear English to help Americans better understand their health care options.ĪRE AMERICANS ILLITERATE when it comes to health care? According to a consumer survey by Policygenius, the answer is yes.
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