About Half Of Employees Seeing More Taken Out Of Paychecks For Health Care In 2014

About half (47 percent) of Americans with employer-sponsored health insurance report that more money is being taken out of their paychecks each month for health insurance than a year ago, according to recent research from Bankrate.com. Forty-four percent are experiencing higher out-of-pocket expenses, including deductibles and copayments, compared to one year ago. Upper-middle-income Americans with employer-based health insurance (annual household incomes between $50,000 and $74,999) are the most likely to report more money being taken from their paychecks and higher out-of-pocket expenses. Overall, respondents in this group are more likely to believe that the cost increases are due to the Patient Protection and Affordable Care Act (ACA). Out of all income levels, they are the most likely to feel that the law has had a negative effect on their health insurance coverage (47 percent).

While many feared losing family coverage as a result of the ACA, very few employers have taken this step (less than one in ten Americans with employer-based health insurance lost coverage for a spouse or child this year). And only two in ten Americans with employer-based health insurance now have fewer doctors included in their plans.

“Since so much of the [ACA] conversation has focused on uninsured Americans and the government-run exchanges, it’s easy to forget most Americans—about 150 million—get their health insurance from an employer,” said Doug Whiteman, insurance analyst at Bankrate.com. “People covered under these plans should watch for changes and discuss with their employers how [the ACA] may affect their coverage and costs. In some cases, getting insurance through the health exchanges could be more cost-effective, so it is important to research all possibilities.”

The survey also found the following:

• More than half (52 percent) of females with employer-based coverage report higher out-of-pocket expenses, compared to only 35 percent of males.

• Forty-eight percent of Americans want to repeal the ACA and only 38 percent want to keep it. When Bankrate.com last asked this question (in late September), 46 percent of Americans wanted to repeal the ACA and 46 percent wanted to keep it.

• Americans feeling more negative about the law currently outnumber those feeling more positive by a two-to-one margin (31 percent to 15 percent).

For more information, visit http://www.bankrate.com/finance/insurance/health-insurance-poll-0114.aspx.

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