While 59 percent of all consumers have significant concerns regarding online security of healthcare payments, worry among younger generations is more pronounced—with 66 percent of Millennials expressing concerns versus 58 percent of Generation Xers and Baby Boomers, according to InstaMed’s 2016 Trends in Healthcare Payments Annual Report .
Other survey findings support the overwhelming popularity of online medical bill payments:
- 68 percent of consumers prefer electronic payment methods for settling their medical bills.
- 80 percent of consumers prefer online payment channels to cover their health plan premiums.
- 20 percent of online healthcare payments are made on a mobile device.
Although healthcare consumers have security concerns, they continue to value the convenience of online payment options enough to change their behaviors to make the process more secure, according to a Harvard Business Review statistic noted in InstaMed’s report.