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Wednesday, 13 January 2021 16:22

Almost 39% of Americans Reduced or Eliminated Insurance Coverage in 2020: Survey

Index

...dental insurance. Forty-two percent of women who eliminated or decreased their insurance coverage said they couldn't afford it, compared with 23% of men.

Of those who eliminated or decreased their insurance, most are putting that money toward groceries (27%), savings (23%) and debt payments (21%), as well as monthly housing costs (15%).

Sixty-three percent of those who reduced insurance coverage in 2020 regretted doing so, and more than half expect to restore their coverage level at some point in the future.

Although insurance is costly (about one in five respondents said they spend $500 or more on monthly premiums), not having insurance can be expensive, too. For example, 58% of respondents don't have dental insurance, which means they could be facing a big out-of-pocket bill should they have a tooth-related emergency.

 

View the full report here: Americans Cut Insurance Coverage.

 

Source: ValuePenguin

 

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