The Price of the US Health Care Affordability Crisis: High Anxiety, Skipped Care, Failing Health
To cover a medical bill, more than half of those surveyed would downsize a home, 75% would take on a second job; more than 1/3 had already skipped care due to costs.
Approximately 1 in 3 adults in the US, nearly 100 million Americans, have medical debt, according to White House statement from the end of 2023. A recent survey of 1007 Americans who had a hospital visit or surgical procedure, for themselves or for a dependent, in the past 24 months, revealed the extent to which medical bills - or the fear of them - can impact the approach to getting care. The survey found that for many, the fear of a future unexpected health care expense, will lead them to avoid seeing a doctor, even when a condition is serious, or to skip a prescription refill. Following are the topline findings from the 2024 survey, commissioned by PayZen, a patient health care financing agency, and conducted by CensusWide.
In order to cover a significant medical bill nearly all people surveyed would cancel vacation plans and half would downsize a home. One-third said they had already skipped or postponed care for cost-related reasons.
People with health insurance also postpone medical care for reasons of cost, including nearly 50% of those with private insurance and one-third with employer-sponsored coverage.
The cost of health insurance premiums over time has outstripped inflation and copay and coinsurance increase in parallel.
Adults who have been hospitalized in the past year are more concerned about not being able to pay unexpected medical bills than about other common financial worries.
Respondents answers reflected the reality that US adults have very little money in reserve to cover an unexpected medical issue.
When forced to forgo care for financial reasons, nearly half of respondents reported skipping preventive care and postponing medication refills.
Some consequences of delaying medical care included reduced mental health, worsening of medical problem, reduced QoL, and poor job performance.
