Do Consumers Understand Cost of Individual Insurance?

In a study done by Kelton Research on behalf of eHealthinsurance.com, I found a few interesting data points:

  • 65% of people don’t think they could afford health insurance for more than 6 months if they lost their job.  (Since most Americans live paycheck-to-paycheck, that shouldn’t be surprising.)
  • Only 26% knew that individual health insurance is cheaper than COBRA although COBRA can be a lot less expensive with the Obama subsidiary.
  • 31% think that they would be denied coverage by another plan versus the actual denial rate which is closer to 11%.
  • To stay covered, only about 50% would be willing to spend less on cell phones or cable TV.
  • Only 40% would be willing to pay more than $200/ month.

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