• About
  • Credit Card Basics
  • Mortgage Basics
  • $40K Challenge
  • Aunt Doris
  • Grandfather Says
  • Privacy
  • Archives
  • Insiders

Len Penzo dot Com

The offbeat personal finance blog for responsible people.

More Than Half of All Americans Delay Medical Care Due to Costs

By Corazon Gritar

When we become ill or get injured, it seems only natural to seek out medical treatment. But as recent research shows, more than half of Americans choose to delay, or totally refrain from getting, health-related care due to one factor: overwhelming costs.

Around 27% of U.S. patients reported that they visited an urgent care center between 2014 and 2016. But new data shows that a significant number of Americans are postponing or bypassing medical treatment that could improve their health. In fact, 52% of adults surveyed said their reason for doing so during the last year was because they couldn’t afford it, while 23% of respondents said they had put off receiving treatment for more than a year for the same reason.

Three types of care emerged as the ones that were delayed or avoided the most. Around 55% of people said they put off dental or orthodontic work during the last year, despite the fact that 20% of US adults said they suffered from anxiety due to the condition of their teeth during 2015. Approximately 43% chose to delay their eye care and 30% opted to wait on their annual physical exams due to costs.

Of course, it doesn’t help matters that health insurance premiums keep rising. While the Affordable Care Act (ACA) was supposed to make obtaining healthcare coverage possible for all Americans, insurers keep raising their rates. When premiums cost more, many Americans have to opt for lower tiers of coverage — meaning that their monthly payments and their appointments are typically both more expensive than before.

Although 84% of respondents in a 2017 survey agreed that most people require some amount of life insurance, some US residents are rethinking having health insurance at all. The ACA required Americans to sign up for healthcare coverage, charging them a fine for not doing so. But now, the Obamacare tax penalty for those without health insurance is no longer in effect. Starting in 2019, experts predict that a lot of residents will start to drop their healthcare coverage completely so they aren’t forced to pay that fine — which can reach $1000 — on their yearly taxes. The Congressional Budget Office has estimated that the penalty’s repeal will cause 4 million Americans to discontinue their health insurance coverage next year, and by 2027, that number could top 13 million.

Already, the number of Americans without health insurance is on the rise. A recent Georgetown University report revealed that 3.9 million children did not have health insurance in 2017, representing a 1.3% increase from the year prior. Experts attribute the increase to misleading news reports, funding decreases for ACA navigators, and a proposal that could make it hard for legal immigrants to receive green cards if they’ve received certain types of public assistance, including Medicaid.

The sad reality is that less than 40% of Americans have enough money in savings to cover a $1000 emergency. The prevalence of loans and debts combined with low wages and the increasing costs of living can make it impossible for Americans to prioritize their health. In fact, 49% of Americans say their health issues typically take a back seat to other financial obligations. As yet, there’s no real solution on the horizon, forcing many Americans to make significant sacrifices for the time being.

Photo Credit: stock photo

Related Posts:
  • Study: Americans More Likely to Save for Vacation than for RetirementStudy: Americans More Likely to Save for Vacation than for Retirement
  • Want to Budget Your Medical Costs? These 6 Tips Will Get You StartedWant to Budget Your Medical Costs? These 6 Tips Will Get You Started
  • Surefire Tips for Keeping Pet Medical Costs LowSurefire Tips for Keeping Pet Medical Costs Low

Leave a Comment December 28, 2018

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Question of the Week:

How old were you when you bought your first home?

View Results

Loading ... Loading ...

Recent Posts

  • Expecting the Unexpected: Managing Finances When You Become Disabled
  • 100 Words On: Why Buying in Bulk Is Not Always a Smart Idea
  • The Importance of Creating Professional Invoices for Your Business
  • 7 Basic Financial Goals Everyone Should Strive For
  • 10 Key Characteristics of Debt-Free People
  • Black Coffee: Egg Nog and Seed Corn
  • 8 Clever Low-Cost Homemade Gifts Everyone Will Enjoy
  • Grandfather Says: The Story of the Cowhide Guitar
  • How to Save Money While Helping Your New Business Thrive
  • 5 Alternative Lending Options for Funding Your Startup Business

Disclaimer

This site is for informational and entertainment purposes only, and the content herein should not be mistaken for professional financial advice. This website accepts advertising in the form of monetary and other compensation; as such, topics of discussion are occasionally influenced by these advertisers. Occasionally, some articles may also include affiliate links, meaning, at no additional cost to you, this blog earns a commission if you click through and make a purchase (for example, as an Amazon Associate I earn from qualifying purchases). Remember, you and you alone are responsible for the decisions you make in life, so please contact an independent financial professional for advice regarding your unique personal situation.

Popular Now:

  1. 1. Sneaky Pizza Delivery Fees Are Here to Stay (and Why It’s Your Fault)
  2. 2. Debt Elimination: The Pros and Cons of Dave Ramsey’s Baby Steps
  3. 3. Drop the Guilt: How to Splurge Without Beaking the Bank
  4. 4. How to Find a Low-Priced Plumber Who Won’t Rip You Off
  5. 5. 11 Retirement Saving Tips for Twentysomethings (& Older Folks Too!)
  6. 6. 16 Extreme Ways to Increase Your Monthly Savings
  7. 7. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  8. 8. The 13 Most Important Items to Keep In a Fireproof Safe
  9. 9. Be Careful, Priceline Users: Name a Wrong Price and You May End Up in Jail
  10. 10. Len Penzo dot Com: Celebrating 10 Years and 10 Million Page Views!

All-Time Most Popular:

  1. 1. 19 Things Your Suburban Millionaire Neighbor Won’t Tell You
  2. 2. Dear Friend: Here Are 41 Reasons Why I’m NOT Lending You the Money
  3. 3. Why Your Expensive Luxury Car Doesn’t Impress Smart People
  4. 4. If You Can’t Live on $40,000 Annually It’s Your Own Fault
  5. 5. 21 Reasons Why Corner Lots Are for Suckers
  6. 6. 4 Smart Reasons Why College Isn’t for Everyone
  7. 7. 18 Fast Facts About Social Security Numbers
  8. 8. My Ketchup Taste Test: Upset! Guess Which Brand Topped Heinz
  9. 9. Why I Prefer a Spreadsheet to Track Expenses and Manage My Finances
  10. 10. Here’s a Simple Trick for Getting Credit Card Interest Charges Waived

Copyright © 2019 Len Penzo dot Com · All Rights Reserved · Designed by Nuts and Bolts Media

Copyright © 2019 · Penzo on Genesis Framework · WordPress · Log in