Thursday, March 23, 2017

Even with insurance, medical bills hurt

Ipsos, a market research company, released a study showing that many Americans are unable to handle unexpected medical bills.

Three-quarters of Americans have seen their health costs rise and not go down--so for many, this means avoiding medical care.

---One in five Americans avoid going to the doctor because of the cost--this includes 56% of people without insurance and 27% of Millennials.

--Forty-nine percent say they don't have enough info on what things will cost to determine what they will have to pay. A broken arm? Almost half of those asked said it would cost them under $500--the real cost, almost $1200. (And that is probably with insurance.)

--In 2015, 41% of Millennials asked for a cost estimate--but only 21% of Boomers and 18% of seniors. HOWEVER--34% of the time, the final bill was higher than the estimate.

Shocker, huh.

Strapped Americans also are not saving for health care. Only 32% contribute to a Health Savings Account.

Bottom line: People who could not afford an unexpected bill over $100 without borrowing--37%. If the bill were more than $2,000 77% said they would have to borrow.

And now--we have a health proposal to make this worse. It's sickening.

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