SOURCE: Simplee

Simplee

August 14, 2012 08:06 ET

Simplee: Seasonality Drives Q2 2012 Slowdown in Consumer Medical Spending

Deductible Limits Help Family Out of Pocket Expenses Decline for First Time in a Year; Consumers Taking More Control of Medical Spending

PALO ALTO, CA--(Marketwire - Aug 14, 2012) -  Simplee, the best way to save money on medical bills, today released its 2012 Second Quarter Health Care in America Out of Pocket Spending statistics. Overall results reflect expected slowdowns from Q1 2012 spending because of the number of family deductibles that have already been met. However, flat spending in comparison to the same quarter last year indicates that consumers are being more deliberate in medical spending decisions.

"Even with the expected seasonal slowdown in spending, there is evidence that consumers are taking more control over their health care costs and driving down out of pocket medical spending," said Tomer Shoval, co-founder and CEO of Simplee. "We found no increase in spending when comparing year over year results, which means that consumers have negated the effects of inflation and rising medical costs through more deliberate spending decisions."

The Simplee quarterly statistics track patient spending from the more than $300 million in health care expenditure and hundreds of thousands of doctor visits within the Simplee database. Key findings are recorded in the tables below. All numbers reflect costs for an average family of four.

Key Findings:

Spend Category Q2 2011 Q1 2012 Q2 2012
Medical $416 $538 $356
Pharma $109 $142 $109
Vision $66 $147 $119
Dental $167 $159 $156
Total OOP $758 $986 $741

Additional findings include:

  • HSA balances fluctuated over the past few quarters, but on average consumers are saving more than spending. In the first half of 2012, consumers contributed an average of $2289 each quarter to their HSAs and withdrew $1903 per quarter.
  • Insurers continue to maintain an even cost burden for consumers. In 2011, consumers paid an average of 24% of the total cost of care. So far in 2012, consumers have paid approximately 25%.

For more information on Simplee and how to take control of your health care expenses please visit http://www.simplee.com. For more information on the Simplee Health Care Spending in America statistics, please contact a Simplee representative.

About Simplee

Simplee is a privately held company that empowers consumers to take control of their health care expenses. The free, web-based service helps users better understand and manage their health care expenses, and identify ways to save money and find better care at lower costs through an easy-to-use, simple dashboard with a set of powerful customization tools. The company is located in Palo Alto, California, and maintains a development center in Israel. For more information visit: http://www.simplee.com

 

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