Survey: Americans Navigate Changes and Costs in 2024 Health Plans

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According to the Congressional Budget Office, a projected 92% of people in the U.S. have insurance coverage in 2024. However, new research from GoodRx reveals significant disparities in satisfaction and experience with these plans.

This research, which surveyed 1,500 Americans, dives into how insurance has evolved over the past year and highlights continuing pain points for consumers. From rising out-of-pocket costs and deductibles to issues with prescription coverage, our findings shed light on the ongoing challenges surrounding insurance.

More than one-fifth of Americans changed their health plan from last year

Some Americans make changes to their health insurance because of a change in their work, age, or health status. According to our survey, nearly 22% of people changed their insurance from last year to this year.

The primary reason for these switches was a need for better coverage. We found that 32% of respondents moved to a higher-coverage plan. Additionally, 23% cited life changes such marriage, divorce, or qualifying for Medicaid/Medicare as their reason for switching.

Interestingly, 13% of people opted for a lower-coverage plan. They may have wanted to reduce monthly premiums or not felt the need for extensive coverage.

29% of Americans are enrolled in high-deductible health plans

High-deductible health plans (HDHPs) are defined as plans with deductibles over $1,600 for individuals or $3,200 for families. A deductible is the amount someone must pay before their insurance coverage kicks in.

These plans' enrollment rates have fluctuated in recent years. In 2024, 29% of respondents reported being enrolled in an HDHP.

26% of Americans saw their deductibles rise in 2024

In 2024, over 25% of the respondents reported an increase in their deductibles; a quarter of insured individuals still face higher out-of-pocket costs before their insurance coverage begins.

Interestingly, 22% of respondents weren't sure if their deductibles had changed since 2023.

25% of Americans face higher out-of-pocket costs

This year, 25% of respondents reported that the amount they paid out of pocket for their medication(s) had risen. Which suggests that out-of-pocket costs continue to be a drain on many people's wallets.

The good news: More than half of Americans didn't see any increase in out-of-pocket expenses.

A small percentage of respondents (5%) noted a decrease in their out-of-pocket costs in 2024.

31% of people pay more than $100 out of pocket for prescription medications

In 2024, 22% of Americans paid more than $100 out of pocket for their prescription medications and 9% paid more than $300.

On a more upbeat note, 54% reported spending $50 or less on these out-of-pocket expenses. So a sizable portion of individuals are able to manage their medication costs within a relatively modest range.

Insurance is still dropping coverage for many Americans' medications

In 2024, 26% of Americans reported that at least one of their prescription medications was dropped from their insurance coverage.

Among those affected, 15% lost coverage for one medication, while 11% lost coverage for multiple prescriptions.

Many Americans are still content with their prescription insurance benefits

In 2024, a significant portion of respondents were content with their prescription medication coverage. But the overall sentiment was mixed. All told, nearly 75% of respondents indicated that they were somewhat or very satisfied with their prescription benefits.

Methodology

Our survey was run through YouGov. The survey ran from April 5 to April 23, 2024. Survey responses were weighted to the U.S. population using age, gender, race, political affiliation, and education level. More information on YouGov survey research is available here.

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