Texans Want More from Health Insurance Companies, New Survey Shows

DENVER, Nov. 30, 2020 /PRNewswire/ -- Friday Health Plans, the health insurance company designed for people who buy their own insurance and the newest carrier to seven major cities across Texas, announced today the findings of their survey on Texas residents' health habits and perceptions of health insurance companies. The study compared related preferences and behaviors of individuals in Texas with others across the United States.

Results from the October 2020 survey show most Texans are eager to make and see improvements in their personal health as well as health insurance options. More than the general U.S. population (35%), 44% of Texans are finding it more difficult to prioritize their health during the COVID-19 pandemic; however, there is a strong desire to focus and improve in the New Year. Many are also ready for a change with health insurance, with 83% saying the industry needs a fresh perspective and nearly half being concerned about selecting a 2021 health plan.

"Health insurance is a very personal decision for every individual and family, but people shouldn't have to roll the dice on their health," said Sal Gentile, CEO and co-founder of Friday Health Plans. "Our data show that Texans take their wellbeing seriously and are ready for simple yet trust-worthy health plans they can count on. Since launching here, people have embraced Friday Health Plans' ACA-qualified insurance products which offer benefits such as free, unlimited primary care visits and mental health appointments as well as more than 5,000 free generic medicines. We are proud to bring these essential services to Texans who want and need affordable health options."

Additional key findings from the survey include:

• More than the general population, Texans say that lack of trust, lack of time, and technological gaps are notable barriers and concerns in buying health insurance. A quarter (25%) of Texans say they don't know if they can trust their insurance carrier. Above all, Texans want health insurance that is affordable, but the top two things they currently association with health insurance are confusion (37%) and greed (33%).
• Texans feel that current health insurance lacks variety, with 70% agreeing that they wish they had different options for health insurance, and nearly 1 in 10 (8%) agreeing that they don't like anything about their current health insurance plan at all.
• Nearly all Texans (89%) agree that mental health is just as important as physical health, but only 13% of Texans said they liked the mental health or behavioral health services currently offered on their health insurance.
• More than half (58%) have felt more anxious and stressed since the start of the COVID-19 pandemic, but only 11% report regularly seeing a therapist, counselor, or psychologist.
• Competing priorities such as work play a large role in Texans' lives, with 43% agreeing that work prevents them from spending time with friends or family, and 46% agreeing that they always feel like they are in business mode. 65% agree that lack of time—more than money—is keeping them from being healthy.
• Texans are more interested in prioritizing their health in the New Year than the general U.S. population by actively improving aspects of their health –- both physically attending more to self-care (41%), getting enough sleep (59%), or learning healthy recipes and ways of cooking (38%), and mentally through therapy (26%).

Friday Health Plans commissioned a 10-minute, online survey among a nationally representative sample of 500 U.S. adults ages 18+ and 500 Texans. The margin of error for each sample is +/- 4% at the 95% confidence level. The survey was fielded by Edelman Intelligence between October 12 – October 19, 2020. The full survey results can be provided upon request.

Texans can visit Friday Health Plans' Texas Information Hub to learn more about the company's seven unique 2021 plans for individuals and families who do not access employer-based health coverage. These health plans are now available through the federal Health Insurance Marketplace, independent brokers and directly on the Friday website.

About Friday Health Plans:  Friday Health Plans is purpose-built specifically for people and small businesses who buy their own health insurance. The company focuses on overall simplicity to offer affordable health plans with benefits that help members stay healthy and cover them if they get sick or hurt. Operational efficiency, top-notch customer service, and smart technology are core to Friday's consumer-centric approach. Headquartered in Denver, insurance plans and services are state-based subsidiaries of Friday Health Plans Management Company, Inc. For more information and to find a health plan, visit https://www.fridayhealthplans.com.

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SOURCE Friday Health Plans