Table 2.
Knowledge about Affordable Care Act, health insurance, and financial literacy
| Income in % of FPL | ||||||
| All (%) | Uninsured (%) | <100 (%) | 100–250 (%) | 251–400 (%) | >400 (%) | |
| Knowledge about ACA | ||||||
| Knows a great deal/fair amount | 24 | 17 | 16 | 20 | 27 | 35 |
| Average number correct ACA knowledge questions | 4.46 | 3.26 | 2.74 | 4.04 | 5.02 | 6.10 |
| More than median correct ACA knowledge questions | 50 | 34 | 26 | 45 | 58 | 70 |
| Has heard of healthcare reform | 78 | 64 | 53 | 77 | 87 | 95 |
| Knows about new exchanges | 51 | 36 | 35 | 43 | 56 | 71 |
| Knows about penalty | 63 | 52 | 44 | 63 | 69 | 77 |
| Knows about subsidy | 46 | 31 | 29 | 41 | 53 | 62 |
| Health Insurance Literacy | ||||||
| Strongly agrees to be confident in financial matters | 46 | 34 | 26 | 43 | 50 | 64 |
| Strongly agrees to be good at mathematics | 28 | 25 | 21 | 27 | 29 | 36 |
| Average number correct HI knowledge questions | 4.84 | 3.70 | 3.25 | 4.62 | 5.55 | 5.90 |
| More than median correct HI knowledge questions | 49 | 27 | 18 | 40 | 63 | 74 |
| Can describe a deductible | 58 | 42 | 30 | 55 | 70 | 78 |
| Knows about deductible/premium tradeoff | 61 | 42 | 32 | 56 | 74 | 82 |
| Knows that HMO greater provider restriction than PPO | 38 | 19 | 20 | 28 | 48 | 57 |
| Average expected changes in health care | ||||||
| Family will be better off (1), no change (0), worse off (−1) | −0.23 | −0.09 | −0.09 | −0.21 | −0.30 | −0.31 |
| Average index for different dimensions | −1.44 | −0.83 | −0.79 | −1.32 | −1.75 | −1.88 |
| Expects access to care to increase (1), stay unchanged (0), decrease (−1) | −0.23 | −0.05 | −0.03 | −0.18 | −0.36 | −0.35 |
| Expects waiting times decrease (1), no change (0), increase (−1) | −0.36 | −0.28 | −0.24 | −0.32 | −0.43 | −0.44 |
| Expects quality of care increase (1), no change (0), decrease (−1) | −0.25 | −0.13 | −0.08 | −0.24 | −0.33 | −0.32 |
| Expects out-of-pocket decrease (1), no change (0), increase (−1) | −0.33 | −0.18 | −0.23 | −0.31 | −0.33 | −0.45 |
| Expects ER costs decrease (1), no change (0), increase (−1) | −0.28 | −0.19 | −0.21 | −0.28 | −0.30 | −0.33 |
| Number of observations | 3,414 | 698 | 963 | 1081 | 724 | 646 |
| Financial literacy (FL) | ||||||
| Numeracy | 85 | 71 | 69 | 82 | 90 | 96 |
| Inflation | 73 | 55 | 46 | 66 | 82 | 90 |
| Risk diversification | 62 | 42 | 36 | 52 | 71 | 83 |
| Average FL Index | 2.20 | 1.68 | 1.50 | 1.99 | 2.42 | 2.68 |
| Number of observations | 2,246 | 401 | 507 | 715 | 541 | 483 |
ALP survey 356, individuals younger than 65, raking weights used. Financial literacy is only available for a subset of respondents that have also answered ALP survey 243. FL index is the sum of correct answers to the three financial literacy questions.