Shocking New Study Finds That 137 Million Americans Suffered “Medical Financial Hardship In The Past Year”
Shocking New Study Finds That 137 Million Americans Suffered “Medical Financial Hardship In The Past Year” by Michael Snyder for End of the American Dream
The healthcare system in the United States is deeply broken, and it is causing massive financial pain for millions of American families. Previously, I have published articles where I talked about how medical bills are the primary factor in two-thirds of all personal bankruptcies in the United States, and that Americans had to borrow a whopping 88 billion dollars last year to cover medical costs. This is happening even though more than 90 percent of all Americans have some form of health coverage. Thanks to soaring deductibles and health insurance policies that are absolutely riddled with loopholes, more Americans than ever are being wiped out by medical bills. And now a brand new study that was conducted by researchers from the American Cancer Society has discovered that 137.1 million Americans suffered “medical financial hardship in the past year”. The following comes directly from the study…
Approximately 137.1 million (95% CI 132.7–141.5) adults reported any medical financial hardship in the past year. Hardship is more common for material, psychological and behavioral domains in adults aged 18–64 years (28.9%, 46.9%, and 21.2%, respectively) than in adults aged ≥ 65 years (15.3%, 28.4%, and 12.7%, respectively; all p < .001). Lower educational attainment and more health conditions were strongly associated with hardship intensity in multivariable analyses in both age groups (p < .001). In the younger group, the uninsured were more likely to report multiple domains of hardship (52.8%), compared to those with some public (26.5%) or private insurance (23.2%) (p < .001). In the older group, individuals with Medicare only were more likely to report hardship in multiple domains (17.1%) compared to those with Medicare and public (12.1%) or Medicare and private coverage (10.1%) (p < .001).
We are the wealthiest nation on the entire planet, and we should have the greatest healthcare system.
This shouldn’t be happening.
And the conclusion that the study ultimately reached is that things are likely to get even worse as we move into the future…
Medical financial hardship is common in the USA, especially in adults aged 18–64 years and those without health insurance coverage. With trends towards higher patient cost-sharing and increasing health care costs, risks of hardship may increase in the future.
When I ran for Congress, I strongly stressed the need for a complete and total overhaul of our healthcare system, but unfortunately our current representatives in Washington don’t seem too interested in that.
Today, many Americans try to avoid our healthcare system as much as possible because they are afraid of being hit with absolutely ridiculous bills.
Just consider the case of 9-year-old Oakley Yoder. She went for a hike in the woods at summer camp, and a snake bite forced her to go to the hospital…
It was dusk as Oakley Yoder and the other summer camp kids hiked back to their tents at Illinois’ Jackson Falls last July. As the group approached a mound of boulders blocking the path, Oakley, then 9, didn’t see the lurking snake — until it bit a toe on her right foot.
“I was really scared,” Oakley said. “I thought that I could either get paralyzed or could actually die.”
So how much do you think her treatment cost?
A few hundred dollars?
A few thousand dollars?
Actually, the total bill was $142,938…
Total bill: $142,938, including $67,957 for four vials of antivenin ($55,577.64 was charged for air ambulance transport). The balance included a ground ambulance charge and additional hospital and physician charges, according to the family’s insurer, IU Health Plans.
This is yet another example that shows that our current system needs to be totally dismantled and rebuilt from scratch.
You could buy an entire house for $142,938.
Here are some more facts from a previous article that show just how dramatically the U.S. healthcare system has failed…