“Plans with high deductibles, coinsurance, and co-pays typically have lower premiums, making them a more attractive option for many people trying to reduce their monthly bills,” said Mary Smith, a board member with Consumers for Quality Care. “However, when seeking care, people with these plans are often left with large bills they aren’t able to pay.”
CQC research from 2022 found that 60% of voters have skipped or delayed medical care due to potential out-of-pocket costs.
Smith noted that medical debt can have serious financial consequences for consumers. Offering some relief, the three large credit bureaus announced this year that they would clear an estimated 70% of negative medical debt from consumers’ credit reports.