March 16, 2018
Milwaukee — HSA Bank, a
division of Webster Bank, N.A., released the HSA Bank Health & Wealth IndexSM for
2018, a new report that explores how today’s consumers are faring when it comes
to their financial and physical health. More than 1,000 U.S. adults were
surveyed about their health plan enrollment status, health practices, ability
to pay for health-related expenses, and level of engagement in their own health
and wealth. The results showed that 41 percent never save money for future
healthcare expenses and 35 percent never consider cost when selecting health
services.
Each survey participant received a health score and a
wealth score, which were combined to produce their overall health and wealth
consumer index score. The score for each respondent ranged from zero to 100.
The higher the score, the more engaged the consumer is in terms of their
physical and financial health. Based on these scores, respondents were grouped
into four categories: optimally engaged, highly engaged, moderately engaged,
and minimally engaged.
“The survey indicated that today’s consumers are taking a
proactive approach maintaining their physical health, but not necessarily their
financial health,” said Chad Wilkins, executive vice president, Webster Bank,
and head of HSA Bank. “However, the research did find that consumers enrolled
in high deductible health plans (HDHPs) with Health Savings Accounts (HSAs) are
generally ahead of the curve when it comes to wealth engagement.”
The average index score for consumers enrolled in an HDHP
is 75.5, placing them in the optimally engaged category and higher than the
average consumer score of 62.4. Ultimately, this shows the valuable role that
consumer-directed health (CDH) plans can play in keeping consumers physically
and financially healthy. Educating consumers on the costs of medical services
creates a new level of awareness for them and makes them responsible for their
health and financial well-being.
Key findings from the report show that although consumers
are paying attention to their physical health and engaging in healthy lifestyle
behaviors, opportunities exist for employers, benefit administrators, and
healthcare providers to further educate consumers on the various factors that
play a critical role in influencing physical and financial health.
- Consumers
can improve their focus on the financial aspect of healthcare.
- Consumer
confidence in health plan coverage does not align with their financial
literacy of health plans.
- Consumers
are making lifestyle changes to improve their health.
No comments:
Post a Comment