NEW YORK, April 7, 2020 /PRNewswire/ -- As the
coronavirus pandemic continues to drive a widespread but disjointed
response from cities, states, federal authorities and health
insurance providers, the uncertainty around testing and treatment
may be compounded by another factor: Who will pay the bills?
If the cost of treatment ultimately falls on unsuspecting
Americans, it wouldn't be a new experience for most — but it would
be financially difficult. In a recent survey by ValuePenguin, the
majority of Americans have prior experience with unexpected medical
costs.
- 75% of respondents admitted that receiving a
surprise medical bill right now would "significantly" set back
their finances.
- The average surprise medical bill was about $520, although 13% were surprised with a bill
of over $1000 in the past year.
- Emergency room visits were the most commonly cited reason
for surprise medical bills, with 28% of respondents naming this
as an item they were billed for.
- 43% of respondents say they were billed for things they
thought their insurer would cover, and a further 18% were
charged more than they expected.
- 3 in 4 people don't review line items in each medical bill
they get, even though 37% said that they have caught a mistaken
charge before and 6% of respondents say they were billed for a
treatment they didn't receive.
To view the full report, visit:
https://www.valuepenguin.com/unexpected-medical-bills
ValuePenguin conducted an online survey of 1,311 Americans, with
the sample base proportioned to represent the overall population.
The survey was fielded using Qualtrics.
About ValuePenguin.com: ValuePenguin.com, part of
LendingTree (NASDAQ: TREE), is a personal finance website that
conducts in-depth research and provides objective analysis to help
guide consumers to the best financial decisions. ValuePenguin
focuses on value, assessing whether the return of a particular
decision is worth the cost or risk of that option, and how this
stacks up with the other possible choices they may have. For more
information, please visit www.valuepenguin.com, like our Facebook
page or follow us on Twitter @ValuePenguin.
Media Contact:
Nadia
Gonzalez (Ms.)
(704) 943-8034
Nadia@LendingTreeNews.com
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SOURCE ValuePenguin.com