Study: Majority Of U.S. Adults Concerned About Medical Bankruptcy, Debt

HealthCareInsider.com, a HealthCare.com company, today released a study showing a majority of American adults worry that getting sick could lead to financial troubles. The survey results show more than half (56%) of respondents are somewhat or very concerned that a health situation in their household could lead to bankruptcy or debt.

Read full survey results: https://healthcareinsider.com/majority-concerned-about-medical-bankruptcy-debt-254418

Nearly three in ten respondents (28%) reported having received a surprise medical bill in the past year (since October 2019). Of those who reported having medical debt, 65% had debts exceeding $1,000.

A portion of the U.S. adults has avoided going to the doctor or getting medical help because of cost worries. Just under half of the respondents (46%) postponed healthcare services in the past year. Of those who did, over three in ten (32%) respondents didn't seek healthcare services because they couldn't afford it.

"This survey data offers some insight into the harsh realities facing millions of Americans, as they face medical debt and surprise bills, and even avoid hospital visits," said Jeff Smedsrud, co-founder of HealthCare.com and head of its coverage business.

Despite some U.S. adults saying they lack health insurance due to cost, many are unaware they could qualify for financial help.

Over half (52%) of respondents didn't know whether you can receive an Affordable Care Act subsidy (a tax credit) to help pay for health insurance if you aren't eligible for Medicare. More than a third (39%) of U.S. adults contacted for the poll said ranked health insurance was their highest healthcare expense.

As COVID-19 continues to make its presence around the country, more than half (55%) of respondents said they were very or somewhat likely to use telehealth in the future.

When it comes to political affiliation, over four in ten (44%) pollees said they trust the Democratic Party most to ensure they and their family can obtain affordable healthcare. 28% trusted the Republican Party most. 12% said they trusted independents most to ensure they and their family can obtain affordable healthcare, and 13% were undecided.

Nearly six in ten (59%) U.S. adults reported they were somewhat or very concerned the Supreme Court will strike down the Affordable Care Act.

"There is plenty of speculation as to what's going to happen to the future of healthcare as Election Day approaches. The best thing you can do right now is take care of yourself and your loved ones. We advise families to lock in the best health insurance plan they can find right now that meets their budget."

Methodology

MedicareGuide.com commissioned YouGov Plc to conduct the survey. All figures, unless otherwise stated, are from YouGov Plc. The total sample size was 1,414 adults. Fieldwork was undertaken on October 19-20, 2020. The survey was carried out online. The figures have been weighted and are representative of all US adults (aged 18-64). The margin of error is 2.61%, plus or minus.

About HealthCareInsider.com
HealthCareInsider.com, owned and operated by HealthCare.com, is a free resource for Americans to understand their Healthcare options better so that they can make the right choices. HealthCareinsider.com is a privately-owned non-governmental website that provides accurate, unbiased, and helpful content with the help of the company's network of Healthcare experts. The management team is comprised of health insurance industry veterans who have more than 50 years of combined experience.

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SOURCE HealthCare.com