The study drew on two surveys of Americans between the ages of 25 and 64 who had private health insurance and were the primary healthcare decision makers for themselves or their families. Of those surveyed, only 14 percent understood all of the four traditional insurance concepts of deductible, copay, co-insurance and out-of-pocket maximums, according to research led by George Loewenstein, a professor of economics and psychology at Carnegie Mellon University.
Read the full article on Becker’s Hospital Review.
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