When it comes to health care, one of Americans’ biggest concerns is paying for it. A survey by HealthCareInsider.com found that 56% of U.S. adults are concerned that a health event could drive them into bankruptcy or debt.
Twenty-eight percent of them already carry medical debt, two-thirds of whom have debt that exceeds $1,000, the study found.
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HealthCareInsider.com provides health insurance comparison services for consumers. It polled over 1,400 U.S. adults on Oct. 19-20 for the survey.
Americans are taking some steps to financially prepare for a health crisis. The survey found 57% have some savings to pay medical bills that come up. Twenty-nine percent had less than $3,000 saved, and an almost equal share (28%) had more than that. Savings will come in handy, as 28% of respondents have had a surprise medical bill in the last 12 months.
A troubling finding out of the survey is the fact that some Americans’ fear of debt may be driving them to avoid needed care. Almost half of respondents said they’ve avoided going to the doctor in the past year, and 32% said they specifically didn’t get care because they couldn’t afford it.
Almost 60% of respondents said they were worried about the future of the Affordable Care Act, but few of them are taking advantage of available subsidies under the act. Over half didn’t know they could get a subsidy on their premiums provided they weren’t eligible for Medicare, and 16% believed that to be false.
Although most respondents were open to using telehealth services in the future (55%), critics offered a litany of reasons that providers need to address to increase adoption:
- Lack of personal interaction: 39%
- Worries about a misdiagnosis: 27%
- Privacy concerns: 23%
- Technology issues: 20%
- Cost of service: 17%
- Difficulty of follow-up or further testing: 15%
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