An April poll from the Kaiser Family Foundation reports that 42% are “unaware” that the Affordable Care Act is law. Another 49% of Americans don’t know enough about the new law to weigh how it may affect their lives.
What’s worse, the demographic the law is designed to protect — the underinsured and families struggling with poverty — don’t know much about the ACA and its impact. According to Kaiser, 58% of America’s uninsured and 56% of low-income households say they “lack enough information to understand how the ACA will affect their families.”
Another study from Indianapolis-based WellPoint
Many Americans are also apparently counting on getting free disability insurance from health care reform — a huge misperception, WellPoint says.
“As this fall draws near, and consumers prepare to purchase their health insurance on the public exchanges, it will be important for them to know that disability insurance will not be one their options,” says Bill Smith, president of WellPoint’s disability and life division. “Instead, they will need to purchase disability insurance either through their employer or out on the open market.”
Smith says that one in four Americans will suffer an illness or injury that will keep them earning income at some point in their pre-retirement lives. Disability insurance, which provides income for afflicted individuals when they can’t work, is a big financial necessity for Americans, but it’s something they’re going to have to buy for themselves.