What You Should Know:
– A new study by Paytient, a provider of healthcare affordability solutions, sheds light on the surprising struggles of many Americans with employer-sponsored health insurance.
– The study, titled “The Hidden Lives of Workplace-Insured Americans,” commissioned from independent research group Nonfiction, reveals a troubling reality – millions are effectively self-insured due to high deductibles, leading to delayed care, financial strain, and a negative impact on both personal and professional well-being.
Employer-Sponsored Insurance Doesn’t Guarantee Access to Care
Paytient’s study serves as a wake-up call, highlighting the often-unseen struggles faced by millions of Americans navigating the complexities of healthcare affordability. As the conversation on healthcare reform continues, this data underscores the urgent need for solutions that ensure everyone has access to the care they need, regardless of their employment status or insurance plan. Key findings of the report include:
- Self-Pay Despite Insurance: The study found that a staggering 69 million workplace-insured Americans, nearly half (45%), primarily paid for their own healthcare in 2023 due to not exceeding their high deductibles.
- Delayed Care Due to Cost: A significant portion (40%) of those with employer-sponsored insurance reported delaying necessary care due to cost concerns. This delay had a negative impact on their mental health, workplace culture, and overall productivity.
- Work Affected by Delayed Care: One in six respondents (16.7%) admitted their work performance suffered due to an untreated health issue. Among them, nearly 69% reported being distracted by pain while at work.
- Job Hopping for Healthcare: A concerning trend emerged, with 17% of respondents revealing they left their jobs to secure more affordable healthcare options.
- Hidden Costs of Delayed Care: The study delves deeper into the hidden toll of delayed care on workplace productivity. Among those whose work was impacted by delayed care:
- 31% resorted to lying to their employers about their situation.
- Nearly 1 in 5 (19%) took on additional work, often a second job, to cover healthcare costs.
“The results of this study spotlight the invisible insecurity of insured Americans as health insurance alone no longer guarantees access to care. Bringing this narrative into the national dialogue on healthcare highlights an opportunity for employers to affordably ensure employees have the security and certainty that they will be able to access and pay for care when they need it,” said Brian Whorley, Founder and CEO of Paytient.
Paytient Study Methodology
The study employed a diverse cross-section of employed Americans, considering factors like gender, race, ethnicity, region, occupation, income, seniority level, family type, and various health conditions. Notably, the sample had a higher-than-average income, with 20% earning over $100,000 annually, and nearly half (46%) holding managerial or higher positions. The quantitative data, collected in January 2024, included 1,516 survey responses, ensuring a 95% confidence level with a 3% margin of error. The study was further enriched by qualitative analysis, including personal stories from those who have delayed care due to cost concerns.