Consumer Education Continues to Lag Despite Considerable Time, Money Spent Promoting Law
NEW YORK – October 28, 2013 – Only one in 10 Americans (11% of the uninsured and nine percent of the overall population) say their health insurance situation has improved over the past year, according to a new Bankrate.com (NYSE: RATE) report.
And despite the fact that the health insurance exchanges opened about a month ago and hundreds of millions of dollars are being spent promoting them, almost half (47%) of uninsured Americans still do not know where they can get information on how the Affordable Care Act will affect them.
Nearly two in three uninsured Americans (64%) have become more curious about the Affordable Care Act since the exchanges opened on October 1. Overall, 51% of the population has become more curious over the past month, including equal numbers of Republicans and Democrats.
"It's concerning to see that many of the people who are most likely to benefit from the Affordable Care Act do not know where they can get information on how it will impact them," said Bankrate.com insurance analyst Doug Whiteman. "The good news is that most Americans are showing interest in Obamacare. Whether or not that interest translates into sign-ups will go a long way toward determining the success or failure of Obamacare."
· Thirty-six percent of Americans say their health care costs have increased over the past twelve months. Only five percent say they have decreased.
· Thirty-eight percent of the uninsured feel more negative about the Affordable Care Act than they did one year ago (versus 25% who feel more positive).
These findings comprise Bankrate.com's Health Insurance Pulse, a monthly survey that tracks how Americans are feeling about health care and their personal finances. The survey was conducted by Princeton Survey Research Associates International (PSRAI) and can be seen in its entirety here:
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PSRAI obtained telephone interviews with a nationally representative sample of 1,001 adults living in the continental United States. Interviews were conducted by landline (500) and cell phone (501, including 246 without a landline phone) in English by Princeton Data Source from October 17-20, 2013. Statistical results are weighted to correct known demographic discrepancies. The margin of sampling error for the complete set of weighted data is plus or minus 3.6 percentage points.
About Bankrate, Inc.
Bankrate is a leading publisher, aggregator, and distributor of personal finance content on the Internet. Bankrate provides consumers with proprietary, fully researched, comprehensive, independent and objective personal finance editorial content across multiple vertical categories including mortgages, deposits, insurance, credit cards, and other categories, such as retirement, automobile loans, and taxes. The Bankrate network includes Bankrate.com, our flagship website, and other owned and operated personal finance websites, including CreditCards.com, Interest.com, Bankaholic.com, Mortgage-calc.com, CreditCardGuide.com, Nationwide Card Services, InsuranceQuotes.com, CarInsuranceQuotes.com, InsureMe, Bankrate.com.cn, CreditCards.ca, NetQuote.com, and CD.com. Bankrate aggregates rate information from over 4,800 institutions on more than 300 financial products. With coverage of nearly 600 local markets in all 50 U.S. states, Bankrate generates over 172,000 distinct rate tables capturing on average over three million pieces of information daily. Bankrate develops and provides web services to over 80 co-branded websites with online partners, including some of the most trusted and frequently visited personal finance sites on the Internet such as Yahoo!, AOL, CNBC, and Bloomberg. In addition, Bankrate licenses editorial content to over 500 newspapers on a daily basis including The Wall Street Journal, USA Today, The New York Times, The Los Angeles Times, and The Boston Globe.