Survey: Many in America feel worried and financially strained by healthcare costs

A survey conducted by West Health and Gallup published in a report released yesterday reveals that many of the 3,500 people surveyed about healthcare costs are already drowning in medical debt, foregoing prescribed medications, cutting back on household expenses, and are fearful about the future of escalating healthcare costs.

“The impact of out-of-control healthcare costs is indisputable, although Americans’ feelings about their healthcare system are complicated and at times conflicted,” said Dan Witters, Gallup senior researcher in a news release. “At a macro level, large numbers think healthcare in America is among the best in the world, but on an individual basis, most agree they are paying too much and getting too little in return, and they are worried not only for themselves but for the country.”

Key survey findings:

·        45 percent of respondents reporting fears of bankruptcy if a major health event strikes.

·         When given the choice between a freeze in healthcare costs for the next five years or a 10 percent increase in household income, 61 percent of Americans report that their preference is a freeze in costs.

·         1 in 4 skip a medical treatment due to costs.

·         Americans collectively borrowed an estimated $88 billion to cover healthcare costs in the past year.

·         64 percent say they are “completely” or “mostly” satisfied with their personal experiences with the healthcare system. However, respondents’ satisfaction drops to 39 percent when they consider how well the system is serving Americans generally.

·         77 percent of Americans are concerned rising costs will significantly damage the U.S. economy.

·         76 percent expect their costs for healthcare will increase even further in the next two years.

·         15 million Americans have deferred purchasing prescription drugs in the past year due to cost.

·         Nearly 3 million borrowed $10,000 or more to pay for healthcare in the past year.

·         Only about one-third report that doctors discuss costs with them in advance of procedures, tests or treatment plans, or for medicine required to treat their conditions.

Party affiliation also plays a role in how people feel: 48 percent of the general population believes that the quality of care in the U.S. is the best or among the best in the world but jumps to 67 percent of self-identified Republicans and 38 percent of Democrats -- but 76 percent of all Americans agree they pay too much relative the quality of care they receive and the majority of both do not trust either side of the government to be willing to reach an agreement that would fix the problem.