Many Americans are stressed out about the high expense of health care. The Commonwealth Fund, a prestigious private organization, performed a study to give insight into the scope of the problem. Their ultimate objective is to promote access to high-quality health care for all individuals. These findings have serious consequences for the affordability of health care in the United States. Â
The survey findings are really discouraging. Half of the American workforce is now concerned about growing healthcare costs. It’s not just the uninsured who are struggling to make ends meet; those with health insurance are as well. One-third of Americans are in debt due to medical costs from physicians, hospitals, and other medical institutions. This amount of widespread debt reflects the institutional barriers that many Americans encounter while obtaining medical treatment. Â
One of the most concerning findings of the study is the extent to which people’s health is jeopardized due to financial restrictions. In the past year, over half of respondents claimed they had either delayed or avoided seeking essential medical treatment. Many people choose to skip their physicians’ prescriptions due to the hefty expense.
This pattern is cause for great worry since it suggests that many individuals are putting their health at risk in order to prevent more financial burden. Sara Collins, The Commonwealth Fund’s vice president and distinguished senior scholar, detailed the findings. She underlined how the evidence disproves a widely held misconception about the US healthcare system.
It has long been expected that individuals who have health insurance will have easy and affordable access to whatever medical treatment they require. However, the poll results paint a contrasting picture of reality. Even for people who have health insurance through their jobs or another source, the expense of medical care can be too expensive. Â
When we look further into the survey data, we notice a few interesting tendencies. With health insurance, 7 out of 10 people can afford the expense of emergency treatment. Furthermore, 60% of respondents who purchased their health insurance through the ACA marketplace or brokers reported financial difficulties paying for medical care. These numbers depict the impact of the healthcare affordability dilemma on persons who have and do not have health insurance. Â
The ramifications of this disaster will be felt for a long time. More than half of those who postponed medical care due to cost saw a worsening in their health. Furthermore, many people struggle with medical debt. In 2021, Americans will owe $88 billion in medical debt. This is the most common type of consumer debt sold to collection agencies.
When such commitments damage people’s credit histories, their ability to make big purchases, such as purchasing a home or vehicle, is severely hampered. The Biden administration has presented remedies due to the gravity of the problem. An insurance plan like this would protect members from having medical expenses harm their credit ratings. Medical expenses place a significant emotional and financial strain on families.
The vast majority of poll respondents expressed concern about paying their medical bills. 39% reduced their spending on basics such as food and rent, 37% drained their savings, and 25% sought new jobs. Finally, the issue of unnecessarily high healthcare expenses in the United States is complex. According to The Commonwealth Fund’s president, Joseph Betancourt, affordability is a growing concern that threatens the health and livelihoods of millions of Americans. Â
News Reference Â
Gordon, D. (2023). Half Of Americans Struggle To Afford Healthcare Costs, New Study Shows. Retrieved from https://www.forbes.com/sites/debgordon/2023/10/26/half-of-americans-struggle-to-afford-healthcare-costs-new-study-shows/?sh=37ec991c5225Â
