What may result if a consumer fails to understand their insurance options?

If a consumer fails to understand their insurance options, they may face the potential loss of suitable coverage or incur unnecessary costs. This situation arises because a lack of understanding can lead to choosing plans that do not meet their healthcare needs effectively, resulting in gaps in coverage. Additionally, consumers might select options with higher premiums or out-of-pocket expenses than necessary if they are not fully aware of the different policies and what they offer.

Being informed about insurance options is crucial for making decisions that align with one's health requirements and financial situation. When individuals do not grasp the intricacies of available plans, it can lead to dissatisfaction and financial strain as well as inadequate care when they need it most.