Unexpected Medical Bills More Difficult to Afford

Unexpected Medical Bills More Difficult to Afford

Healthcare costs are rising, including insurance deductibles, and Americans are finding it difficult to afford the unexpected medical costs.

The Associated Press-NORC Center for Public Affairs Research surveyed 1,008 U.S. adults between April 14 – 18, in regards to the economy and household finances and recognized the following findings:

  1. Of participants making less than $50,000 annually, 75% said they would have difficulty affording an unexpected bill amounting to $1,000.
  2. Of participants making between $50,000 and $100,000 annually, 67% said they would have difficulty affording a $1,000 surprise bill.
  3. Of households making more than $100,000 annually, 38% said they would at least have some difficulty coming up with $1,000.
  4. When faced with an unexpected $1,000 bill, a majority of participants said they wouldn’t likely have the money on hand to pay the bill. One-third of the participants said they would have to use a credit card or borrow money from the bank, friends or family to pay the bill. And 13% said they would forgo paying other bills to afford the surprise bill, while 11% said they would likely not pay the bill at all.

Source: Becker’s Healthcare | 66% of US citizens would struggle with a surprise $1k bill

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