This study set out to determine individuals' proficiency in finding, selecting, and making appropriate health insurance decisions for a positive healthcare experience. Primary data were collected by means of a cross-sectional online survey of 1,469 adults in the United States. Using separate multivariate regression models, we examined the relationships between patient characteristics and an individual's ability to choose, compare, manage, and use health insurance plan benefits. Across all four constructs, younger individuals exhibited significantly lower health insurance literacy. Compared to males, females reported lower levels of health insurance literacy. However, females were better able to compare health insurance benefits and efficiently use health plan benefits. Respondents who reported private insurance coverage or being uninsured had significantly lower health insurance literacy levels. We concluded that health insurance literacy is a salient issue that affects optimal healthcare use. Identifying characteristics associated with limited health insurance literacy is useful in guiding efforts to address health insurance literacy among healthcare consumers.