Close Close
Popular Financial Topics Discover relevant content from across the suite of ALM legal publications From the Industry More content from ThinkAdvisor and select sponsors Investment Advisor Issue Gallery Read digital editions of Investment Advisor Magazine Tax Facts Get clear, current, and reliable answers to pressing tax questions
Luminaries Awards
ThinkAdvisor

Life Health > Health Insurance > Health Insurance

Seniors Try to Shop for Care

X
Your article was successfully shared with the contacts you provided.

Many older U.S. residents ask about the cost of medical care, but few try to ask for discounts.

Extend Health Inc., San Mateo, Calif., a Medicare plan exchange operator, commissioned a survey of 377 adults ages 65 and older.

About 41% of the survey participants said they try to estimate the out-of-pocket cost of their medical care at least some of the time; about 39% of those participants believe they come up with an accurate estimate most or all of the time.

But 22% rarely or never come up with an accurate estimate, and 48% said they rarely or never ask providers how much a medical service will cost. Only 25% ask about the cost of medical services most or all of the time.

Just 13% said they have tried to negotiate for a lower price for a medical service; 87% have never tried to negotiate with providers.

- Allison Bell

Other health care price transparency coverage from National Underwriter Life & Health:


NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.