CVS Caremark Survey Spotlights Affordable Care Act Knowledge Gap
Overall Awareness of the Affordable Care Act is up, but 36 Percent of Those Likely to Enroll in Exchanges Say They Need Help
Only 48 Percent of Those Eligible for a Subsidy Believe That They Are
WOONSOCKET, R.I., July 25, 2013 /PRNewswire/ -- As states prepare their health insurance exchanges for open enrollment beginning October 1, a new survey from CVS Caremark (NYSE: CVS) shows that while there has been an overall increase in awareness of the Affordable Care Act (ACA), many of those eligible to enroll in health exchanges are asking for help.
The survey results, based on a sample of over 1,000 respondents, found general awareness of the ACA has increased to 74 percent, up from 57 percent as seen in a similar 2011 CVS Caremark survey. But the new survey found that 36 percent of respondents who are likely to enroll in health exchanges need more information and help in evaluating the insurance exchange process. What's more, perceptions about cost remain the biggest barrier to the likelihood of enrolling – and lack of knowledge could prove costly: Only 48 percent of those who are eligible for a subsidy believe that they are.
"We have a tremendous opportunity to help Americans understand the new health care law and how it affects them so consumers receive the coverage that best fits their families," said Helena Foulkes, Executive Vice President and Chief Health Care Strategy and Marketing Officer of CVS Caremark.
The CVS Caremark survey also found that pharmacies will be a primary resource to meet the needs of uninsured Americans, with 68 percent of those surveyed expecting retail pharmacies to offer health insurance information in-store and/or online. Among those asking for help, Hispanics newer to the country and the youngest group surveyed (aged 18-35) were significantly more likely to say they need help understanding the exchanges.
In an effort to fill the information gap, CVS Caremark will roll out a company-wide information and outreach program to help customers gain access to critical health insurance marketplace information, including retail events and brochure displays at its more than 7,400 retail stores and 650 MinuteClinic locations. Information will also be available online at www.cvs.com/insurance.
"Even among the 50 million Americans who were uninsured in the last year, most filled at least one prescription," said Foulkes. "Pharmacies hold the key to educating the public about their health care options and helping them on their path to better health."
Findings are from an online survey of 1,078 adults ages 18 and older conducted by The Research Intelligence Group on behalf of CVS Caremark during May 2013.
About CVS Caremark
CVS Caremark is dedicated to helping people on their path to better health as the largest integrated pharmacy company in the United States. Through the company's more than 7,400 CVS/pharmacy stores; its leading pharmacy benefit manager serving more than 60 million plan members; and its retail health clinic system, the largest in the nation with more than 600 MinuteClinic locations, it is a market leader in mail order, retail and specialty pharmacy, retail clinics, and Medicare Part D Prescription Drug Plans. As a pharmacy innovation company with an unmatched breadth of capabilities, CVS Caremark continually strives to improve health and lower costs by developing new approaches such as its unique Pharmacy Advisor program that helps people with chronic diseases such as diabetes obtain and stay on their medications. Find more information about how CVS Caremark is reinventing pharmacy for better health at info.cvscaremark.com.
SOURCE CVS Caremark Pharmacy Services