The hundreds of hours clocked by health insurance agents during the 2015 open enrollment period have been met with little fanfare, either from agency accountants or consumers themselves.
According to a new poll from the Deloitte Center for Health Solutions, the vast majority of enrollees in new plans offered through the Affordable Care Act exchanges are not happy with their insurance. In fact, just 30% of respondents said they were satisfied with policies purchased through the online marketplaces, compared with 42% satisfaction from people with employer-sponsored plans, 48% satisfaction with Medicaid and 58% satisfaction with Medicare.
Cost remains the biggest factor in customer unhappiness. With out-of-pocket costs capped at a sky-high $6,600 per person, many respondents say their cost-sharing burden may as well be $600,000, it’s so unlikely they will be able to pay it.
Indeed, an analysis from consulting firm HealthPocket found that the average deductible for a silver-level Obamacare plan last year was $2,907 – more than twice the average deductible required in an employer-sponsored plans.
Furthermore, one in three Obamacare enrollees reported difficulty paying their out of pocket expenses and just 24% told Deloitte they were confident they could get affordable healthcare when they needed it.
That compares to 27% confidence among enrollees in employer-sponsored plans and 38% confidence among those using Medicare.
It doesn’t seem likely that these sentiments will change soon, either. The majority of inurers participating in state and federal exchanges say they paid out more in claims than they collected in premiums last year, and health plans are seeking increases of 10% to 40% for the upcoming open enrollment season.
“Our claims experience has not slowed at all,” said Scott Keefer, a vice president of Blue Cross and Blue Shield of Minnesota, which requested rate increases of an average 50% on its plans. “The trend has gotten a little worse than we expected.”
There were some bright spots in the Deloitte survey, however. More than 70% of Obamacare enrollees who have used their benefits said they may not have been able to get the care they received without their current plans.
Additionally, other surveys have indicated a higher level of satisfaction among new ACA enrollees. According to research done by the Commonwealth Fund in June, 81% of people were satisfied with their coverage.
