Business Insurance

Filed under:

A national survey of 686 consumers, fielded in July, found that 22 percent of consumers say they have reduced the number of times they see the doctor as a result of today’s economy. Furthermore, 11 percent of consumers say they have cut back the number of prescription drugs they take or the dosage of those medications to make the prescription last longer.

“Delaying medical treatment and regular physicals puts consumers at risk for potential health issues - and increases overall health insurance costs,” said NAIC President and Kansas Insurance Commissioner Sandy Praeger. “It’s critical that consumers continue to take responsibility for their health, so that we can all benefit from healthier lives and more affordable healthcare.”

And, while consumers might be making budget cuts in other areas, the NAIC’s survey revealed that the vast majority have not reduced, cancelled or otherwise made changes to their insurance policies. Following is a summary of the key research findings:

o 80 percent of consumers have not made changes to their auto insurance policy.

o However, 7 percent of consumers reported changes. Of those, 4 percent reduced coverage, 2 percent fell behind on payments and 1 percent cancelled their policy.

Homeowners Insurance

o 74 percent of consumers have not made changes to their homeowners insurance policy.

o However, 5 percent of consumers reported changes. Of those, 2 percent reduced coverage, less than 1 percent fell behind on payments and 3 percent cancelled their policy.

Health Insurance

o 85 percent of consumers have not made changes to their health insurance policy.

o However, 5 percent of consumers reported changes. Of those, 2 percent reduced coverage, 1 percent fell behind on payments and 2 percent cancelled their policy.

Life Insurance

o 78 percent of consumers have not made changes to their .

However, 6 percent of consumers reported changes. Of those, 1 percent reduced coverage, 2 percent fell behind on payments and 3 percent cancelled their policy.

Related posts

• Text of President Bush’s final State of the Union address
• Florida Gov. Charlie Crist endorses John McCain, a critical boost ahead of Republican primary
• Bristol-Myers Posts Quarterly Loss on Investments
• Judge sentences retired lawyer in class-action kickback scheme
• A Who’s Who of the Federal Reserve policymakers who hold power over your pocketbook
• Motor Insurance Deals Tempt Private Equity
• New York investigation may distract, cost UnitedHealth
• Italian Acquisition Targets Too Few, Too Expensive, Unipol Says
• Study finds too many adults skipping vaccinations that could ward off suffering
• Economy needs help, experts say