New Health Insurance Public Exchanges Will Not Cover Your Car, Your House or Your Pet
According to a new survey conducted by Anthem Blue Cross and Blue Shield, most are unaware that disability insurance will not be offered on the public, state and federal exchanges
RICHMOND, Va – May 22, 2013 – Insurance for pets, homeowners and cars -- in addition to health insurance, these were the items that consumers ventured to guess would be included on the menu of options available to them through the public health insurance exchanges being introduced this coming fall. Some even thought travel insurance might be offered.
However, just as florists sell flowers and car dealerships sell cars, the focus of the menu on the public health insurance exchanges will focus squarely on health insurance. But, early research suggests many consumers expect disability insurance to be one of their choices. In fact, just a quarter of all Americans know that only health insurance will be offered on the public exchanges.
“As this fall draws near, and consumers prepare to purchase their health insurance on the public exchanges, it will be important for them to know that disability insurance will not be one their options,” said Bill Smith, president of Anthem’s Disability and Life business. “Instead, they will need to purchase disability insurance either through their employer or out on the open market.”
Disability insurance helps replace a person’s income when they can’t work due to a disabling injury or illness. According to the Council for Disability Awareness, of today’s 20-year olds, one in four will suffer a disabling injury before retirement.
The Anthem survey, conducted to celebrate Disability Insurance Awareness Month, uncovered further confusion around the issue, with most believing that if they get sick, having health insurance coverage means that all of their health care needs are taken care of.
• This was particularly the case for the younger of those surveyed, falling within the ages of 18 and 34.
• This same age group also believed that if they were injured and unable to work, they would be helped through the health care reform laws.
The need for consumers to appreciate the importance of purchasing disability insurance was underscored by the fact that nearly half (47 percent) of all respondents admitted to living from paycheck to paycheck; a dramatic increase from 2012 when nearly a third (32 percent) indicated this to be the case.
While nearly three quarters (74 percent) of those surveyed admitted to knowing someone who had taken off work because of a disabling injury or illness, few equated disability benefits with more common needs such as maternity leave after childbirth or fitness service discounts, which Anthem offers even without the filing of a claim.
“The good news from this survey is that most consumers do see the value of disability insurance; with 65 percent equating it to being prepared for the future,” adds Smith. “The challenge becomes making sure people have access to it, and know how to go about purchasing it.”
More information about Anthem’s disability benefits can be found at www.anthemlife.com.
This report presents the findings of a telephone survey conducted among two national probability samples, which, when combined, consists of 1,013 adults, 504 men and 509 women 18 years of age and older, living in the continental United States. Interviewing for this CARAVAN® Survey was completed on April 18-21, 2013. 663 interviews were from the landline sample and 350 interviews from the cell phone sample.
The margin of error for the total sample is ±3.0 percent. This means that if we were to replicate the study, we would expect to get the same results within 3.0 percentage points.
About Anthem Blue Cross and Blue Shield in Virginia
Anthem Blue Cross and Blue Shield is the trade name of Anthem Health Plans of Virginia, Inc. (serving Virginia excluding the city of Fairfax, the town of Vienna and the area east of State Route 123.). Anthem Blue Cross and Blue Shield and its affiliated HMOs, HealthKeepers, Inc., Peninsula Health Care, Inc. and Priority Health Care, Inc. are independent licensees of the Blue Cross and Blue Shield Association. ®ANTHEM is a registered trademark of Anthem Insurance Companies, Inc. The Blue Cross and Blue Shield names and symbols are registered marks of the Blue Cross and Blue Shield Association. Additional information about Anthem Blue Cross and Blue Shield in Virginia is available at www.anthem.com.