According to a Gallup poll, 80% of Americans are worried about being able to access affordable health care. Of the nearly 30 million Americans who are uninsured, many worry about being denied care. In fact, more people report being worried about medical bills than about getting sick.
People with insurance are not immune. Health insurance premiums are on the rise, and employees pay a growing share of those costs.
Many Americans simply do not have the cash to cover these expenses. Approximately one-quarter of Americans report struggling to pay their medical bills. People with deductibles are more likely to avoid the care they need, including for serious diseases like diabetes and cancer.
If you’ve been planning ahead and managing your budget, you may feel buffered from these cost concerns. But as Americans brace for exponential growth in coronavirus cases, it is important to understand what testing and treatment might mean for your finances. More information on how to pay for coronavirus healthcare could be found here.