U.S. Workers Do Not Understand Health Care Consumerism, Study Shows

Difficult Concept: More employers are embracing consumerism in health care, but American workers understand very little about the changes that health benefits are undergoing, according to Fidelity Investments. A study by the financial services firm asked workers about their knowledge of health benefits terminology. Eighty-seven percent said they know what a co-pay is; half said they know about health reimbursement accounts; and 56 percent said they know what a health savings account is. Most employers do not yet offer HSAs or HRAs, but those that want to must first educate employees about the various elements associated with health care consumerism, according to the study. The study also asked respondents what influences their choice of a health plan. Most said they pick the plan based on the cost of the monthly premium. The second-most popular reason for picking a plan was the cost of co-pays and the ability to have access to specific doctors. Among the least important was access to preventive medicine. The study also said workers who are most dissatisfied with their health plan are most likely to be interested in consumer-driven plans.