Financial study: Americans are worried sick over health care

According to bankrate.com, more Americans concerned about not having affordable healthcare.

 As the talk on health care continues on Capitol Hill, it also looms in the minds of many Americans. And whether the Affordable Care act is repealed or replaced, most Americans worry about the affordability of health insurance.

Over the past year, one in four American families have decided not to seek medical attention when they needed it because of the cost, according to a new study from Bankrate.com.

“It’s very concerning that people are foregoing medical attention because of the expense,” said Robin Saks Frankel, a credit card analyst at Bankrate.com. “Thirteen percent of respondents don’t have any health insurance at all – a risk that could cost them.  Unexpected medical bills can lead to a huge financial burden that could take years to pay off should something go wrong.”

More than half of Americans (56%) are worried that they might not have affordable health insurance in the future. 

Generation X: 64%

Baby Boomers: 58%

Millennials: 56%

Silent Generation: 35%

Unexpected medical bills can lead to a huge financial burden that could take years to pay off should something go wrong.

“You don’t want to be in a situation where your choosing not to take care of a serious medical problem because you’re afraid of the hit your wallet will take,” said Frankel. “It may not be realistic for everybody, but the whole point of an emergency account is so that you don’t have to choose between your physical health and your financial health.”

© 2017 KPNX-TV


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