Americans borrowed more than $88,000,000,000 last year to cover healthcare expenses
Why is it a big problem? Because Americans are hurting badly from healthcare costs. A new survey by Gallup shows Americans borrowed upward of $88 billion last year to pay for healthcare expenses not covered by their health insurance. One in four of the respondents also said they had skipped “a medical treatment because of cost.” Forty-five percent of those asked said they feared a “major healthcare event” would lead them into bankruptcy, including a third of respondents from households making more than $180,000 annually saying they shared that apprehension. Three-quarters of respondents told Gallup they believed the rising costs of health care would damage our economy.
Sadly, these are not surprising numbers. Medicare, which does a considerably better job of covering people at relatively affordable prices, has large gaps of its own that need fixing. Civiqs polling has shown for a long time now that most Americans want the ACA to be improved and expanded—with large gaps between GOP and Democratic respondents.