Third annual report from Optavise (formerly
DirectPath) demonstrates why ongoing health benefits education is
critical
CARMEL,
Ind., July 18, 2022 /PRNewswire/ -- Optavise
(formerly known as DirectPath), a one-stop shop for employee
benefits programs offering a combination of products, technology,
and expert guidance, today released a new report, Healthcare
Literacy Takes One Step Forward, Two Steps Back.
The report highlights the need for greater healthcare literacy
education as 62% of respondents stated they don't always compare
costs before receiving care, which could mean they are overpaying
for healthcare services. Only 10% of respondents stated they check
whether a medical provider or facility is in-network whenever their
health plan changes (down from 25% in 2021). The survey was based
on responses from 1,055 U.S. workers with employer-sponsored health
insurance.
According to Optavise's new report, employees are very eager to
make smarter healthcare decisions and save money. Other key
findings include survey respondents wanting to know how to:
- Avoid surprise medical bills (39%)
- Understand how their deductible, copay/coinsurance and
out-of-pocket maximum (OOPM) work, and how it impacts their wallet
(33%)
- Review an explanation of benefits (EOB) and medical bill for
errors (30%)
- Research healthcare costs and why it matters (29%)
- Choose a plan and where to get care (22%)
"From inflation to a greater number of Americans facing medical
debt, it is critical that consumers have the information they need
to make cost-conscious healthcare decisions," said Kim Buckey, vice president, client services at
Optavise. "While new regulations have gone into effect to help curb
surprise medical bills, these regulations alone are often not
enough to reduce healthcare spending, especially since hospitals
may not be in compliance and consumers generally do not know that
these regulations exist."
To ensure employees receive the support they need to increase
their healthcare literacy and improve their financial wellness,
more employers are partnering with benefits educators and
digitizing education. According to the Optavise survey, 26%
of polled employees say their employers offered presentations and
group sessions with benefits educators and outside resources (up
from 22% in 2021), and 24% offered one-on-one conversations with
these outside resources (up from 16% in 2021). More than half of
respondents (53%) said that their company has made online resources
available, up from 41% in 2021—likely due to the shift to remote or
hybrid workforces.
"It is encouraging that employees want to increase their
healthcare literacy rates to improve their financial situations,"
added Buckey. "More employers, however, need to rise to the
occasion. Employees are demanding more financial wellness support,
meaning employers need to offer health benefits education. This is
critical for employees to receive accurate, timely and consistent
information about how to choose and use their health plans so that
they—and the company—are not overspending on healthcare
services."
For more information about the report, visit this link.
Methodology
Optavise surveyed 1,055 U.S. workers with
employer-sponsored health plans who do not work in the insurance
industry.
About Optavise
Optavise is a comprehensive provider of
employee benefits solutions that helps employers and their
employees maximize their benefits and make better health and
financial decisions. We offer a unique combination of expert
guidance, voluntary benefits, year-round education, communications
and advocacy, and benefits administration technology. A part of the
CNO Financial Group (NYSE: CNO) family of brands, Optavise operates
nationwide through a network of 10,000 broker partners and more
than 600 dedicated agents. We serve nearly 20,000 businesses and
employers, ranging from small- and medium-sized businesses to
Fortune 100 companies. For more information, visit
Optavise.com.
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SOURCE CNO Financial Group