Americans Ill-Prepared for Healthcare Costs

The cost of healthcare is making Americans sick with worry.

One-in-five Americans, 19 percent, report not going to the doctor to avoid paying healthcare bills, according to a recent survey from Amino, a San Francisco-based healthcare information provider.

A quarter of millennials aged 18 to 35 are forgoing medical treatment to avoid the costs, according to the research.

Three-quarters of the respondents, 74 percent, said that their healthcare costs have gone up in recent years,  and over half of the respondents, 55 percent, said they had received a medical bill that they could not afford to pay. While most women, 62 percent, reported having received a bill they could not afford, fewer than half of the men, 47 percent reported the same.

For Amino’s respondents, maintaining good insurance coverage was most common method used to avoid high healthcare costs, named by 39 percent – but almost half of the survey’s insured respondents, 49 percent, said that their provider didn’t provide them with enough information to determine their out-of-pocket costs.

Fewer than one-in-three respondents, 32 percent, said they were contributing to a health-savings account.

In fact, many of the respondents weren’t saving for medical expenses – fewer than half set aside $50 or more per month for their healthcare, and only 15 percent were setting aside for unexpected health emergencies.

More than one-third of the respondents, 37 percent, said they could not afford an unexpected bill for more than $100 without going into debt.

For the study, Ipsos polled 1,006 U.S.

from FA News http://www.fa-mag.com/news/americans-ill-prepared-for-healthcare-costs-31964.html

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