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
