With the U.S. economy in a downturn, it appears that consumers may be responding by cutting back on medical care. According to a new survey by the National Association of Insurance Commissioners, 22 percent of respondents had cut the number of times they visit their doctors because of the economic climate. The poll, which surveyed 686 consumers, also found that 11 percent of respondents had reduced the amount of prescription medications they took, or the dosage of those medications, to make their supply last longer. Consumers are holding on to their insurance plans, however. While 2 percent had canceled their coverage due to economic concerns, 85 percent made no changes.
Industry observers suggest that consumers are cutting back because with employers increasing deductibles and restructuring plans, their overall share of medical costs is frequently higher than it had been in the past, which gives them a bigger cost issue to manage.
To learn more about this study:
- read this Kaiser Daily Health Policy Report item [1]
Related Article:
Trend: Consumer medical finance market grows [2]
Links:
[1] http://www.kaisernetwork.org/Daily_Reports/rep_index.cfm?DR_ID=53936
[2] http://www.fiercehealthcare.com/story/trend-consumer-medical-finance-market-grows/2007-08-30