A survey of 7,400 Americans showed that 54 percent of respondents were confused by bills from health care providers, 64 percent received surprise health care bills, and only 25 percent received a cost estimate before receiving health care services. Among respondents, 80 percent said cost estimates would be helpful.
In addition, to the survey results, the report said consumers had less credit available to pay for health care services despite an improving economy. Consumers’ ability to pay for medical procedures decreased by more than 11 percent in 2014 as health care costs rose and revolving credit became less available, said TransUnion Healthcare, a division of TransUnion, a credit-rating company. The company uses a ratio to compare consumers’ available revolving credit to select health care costs. The report showed that consumers’ available credit declined 11 percent from 2013 to 13.5 to 1 at the end of 2014. The ratio means that for every $100 in health care costs, consumers had $1,350 in revolving credit to use to make those payments in the last quarter of 2014.
Also, the report showed, the average deductible has risen steadily since the second quarter of 2013 from rose $1,055 to $1,133 by the fourth quarter of 2014 and that the average price of major joint replacement surgeries rose steadily in the same period from $2,535 in the second quarter of 2013 to $3,135 in the fourth quarter of 2014.