Households earning less than $40,000 a year are more than four times as likely to be carrying long-term medical debt than those earning $100,000 or more.
Americans' concern over the cost of health care could play a role in the outcome of the next presidential election. A study released earlier this week by West Health and Gallup interviewed 1,007 U.S. adults and indicated that half of U.S. adults fear that a major health event could lead to bankruptcy, which is an uptick from 45% in 2019. The increase is even sharper among people of color, where concern over illness-induced bankruptcy rose from 52% to 64%.
According to the report, 15% of adults say at least one member of their household has medical debt that they will not be able to repay within the next year.
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Frank Ready
Frank Ready is a reporter on the tech desk at ALM Media. He can be reached at [email protected].
