The Growing Burden of Medical Debt
In the United States, millions face a significant medical debt crisis, impacting people from all walks of life. The crisis affects individuals and families, creating substantial financial burdens.
Statistics Highlighting the Crisis
Recent studies show the vastness of this issue. In 2020, approximately 79 million Americans struggled with medical bills or had medical debt. This number represents 24% of all adults in the country. Among adults under 65, one in four reported difficulties in paying medical bills.
Insurance Coverage and Financial Challenges
Even those with health insurance are not immune to financial challenges related to medical expenses. In 2020, about 32% of insured adults reported difficulty in managing their medical bills. This suggests that insurance coverage does not fully protect against healthcare-related financial burdens.
The Extent of the Problem
Polling by the Kaiser Family Foundation in March 2022 found that 43% of adults reported deferring healthcare due to cost. Americans collectively spend over $433.2 billion annually out-of-pocket for healthcare, besides insurance payments and co-pays. An estimated 18 million Americans struggle to afford basic necessities due to excessive healthcare bills.
The Impact
Understanding the scope of this problem is critical for finding effective solutions and providing relief to those affected.