Each month, Bespoke runs a survey of 1,500 US consumers balanced to census. In the survey, we cover everything you can think of regarding the economy, personal finances, and consumer spending habits. We’ve been running the monthly survey for more than two years now, so we have historical trend data that is extremely valuable, and it only gets more valuable as time passes. All of this data gets packaged into our monthly Bespoke Consumer Pulse Report, which is included as part of our Pulse subscription package that is available for either $39/month or $365/year. We highly recommend trying out the service, as it includes access to model portfolios and additional consumer reports as well. If you’re not yet a Pulse member, click here to start a 30-day free trial now! Below we highlight the results of two questions we ask each month regarding health insurance and healthcare costs. This is one of essentially hundreds of data points included in each monthly report.
In our latest November Consumer Pulse Report, we saw a noticeable drop in the percentage of consumers who have health insurance. We also ask survey participants how current healthcare costs compare to costs one year ago. As shown in the chart below at right, consumers have been noticing big increases in healthcare costs across the board recently. Premiums, deductibles, copays, and overall costs had been trending lower up until mid-2016, but over the last five months they’ve been going up and up. This cost data suggests to us that the new administration shouldn’t get much pushback from the public when dealing with healthcare reform.