Thursday, November 13, 2008

News You Can Use: Workers foregoing health coverage over cost

Did you have fewer takers this year during open enrollment? Blame the economy.

New survey results from BearingPoint, Inc. and Zogby International show that, due to the economic crunch, nearly 10% of employees are more likely to either drop their health insurance plan or switch to a less expensive one with fewer benefits.

Workers making less than $25,000 a year and workers age 18-24 are most likely to switch to a cheaper plan or drop coverage altogether. Among ethnic groups, Hispanics are most likely to put cost over care.

Further, the survey reports 15% of respondents were more inclined to take less medications or forego prescriptions because of financial strain.

2 comments:

Maria K Todd, MHA PhD said...

this news makes the global healthcare and medical tourism options even more of a reality

Anonymous said...

A lot of our employees did drop or decided to take the cheaper versions of our plan. THose that dropped out of our plan to purse the "cheaper" versions offered in the promotions that constantly bombard them out the work place, were suprised at how much more they had to pay monthly and for fewer benefits than joining our group plan.