Americans increasingly delay medical care because of cost


The US healthcare system is again short of Americans.

According to the latest Federal Reserve (Fed) survey, 28% of respondents will be unable to obtain any type of medical care due to cost in 2022, a 4% increase from the previous year. Increased points.

The survey found that dental care was the most frequently skipped medical service, followed by doctor visits, prescription drugs, follow-up visits, mental health care and counseling.

“Healthcare is an area where people can save money by spending less, so this increase in measures may partly reflect consumer reaction to inflation,” the Fed said in an annual report. states in the report, Economic Well-being of American Households. report.

According to the Consumer Financial Protection Bureau (CFPB), as of June 2021, U.S. consumers will have about $88 billion in medical debt. An estimated 41% of Americans suffer from some form of medical debt. Such debts may arise due to unforeseen medical accidents, unforeseen medical expenses, out-of-pocket expenses, etc.

Out-of-pocket costs continue to rise, averaging $1,315 per person in 2021. For those with employer-provided insurance, the average single co-payment has increased by more than 57% since 2013, and the average family co-payment has increased by more than 57%. bottom. 55%.

Dr. George Dengler speaks with a patient in the hallway of St. Bernard's Hospital in Inglewood on January 5, 2022.  (Brian Cassella/Chicago Tribune/Tribune News Service via Getty Images)

Dr. George Dengler speaks with a patient in the hallway of St. Bernard’s Hospital in Inglewood on January 5, 2022. (Brian Cassella/Chicago Tribune/Tribune News Service via Getty Images)

Meanwhile, a Fed survey found that 23% of adults reported having paid unexpectedly large medical bills in the past 12 months, with median costs ranging from $1,000 to $1,999. Additionally, 16% of her adults said they had medical debt due to their own or her family’s medical care.

“The whole medical financing system is broken,” Eva Stahl, RIP Medical Debt’s vice president of public policy, previously told Yahoo Finance. “This is not a single problem. I completely lose my motivation.”

The Fed’s findings suggest Stahl’s assessment may be accurate, as 38% of respondents with household incomes below $25,000 cannot afford medical bills. 11% of adults with more than $100,000 were deferring medical care.

Among the uninsured, about 8% of U.S. adults, 42% delayed treatment because of cost, compared to 26% for those with insurance.

Adriana Belmonte is a political and health policy reporter and editor at Yahoo Finance. You can follow her on her Twitter @adrianambells Please contact adriana@yahoofinance.com.

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