HEALTH
A third of Americans avoid healthcare due to costs: How expensive is healthcare in the US?
The US is notorious for having an awful healthcare “system” whilebeing the richest country in the world, regularly destroying personal finances for care.
Walmart’s recent decision to close all of its doctor-staffed clinics and shut down its Walmart Health division nationwide has raised concerns about healthcare affordability and access in the United States. This move comes at a time when a significant portion of Americans are already struggling to afford medical treatment due to the high costs of healthcare.
A recent survey conducted by Tebra, which polled 800 Americans and 200 healthcare professionals, revealed the true impact of these economic challenges on people’s healthcare decisions. Over one-third of respondents have avoided or delayed medical treatment this year due to cost, and nearly one-third feel completely unprepared for unexpected medical expenses.
The study in more detail
The survey also found that nearly three-quarters of individuals (73%) experience anxiety about healthcare affordability, with over a quarter (27%) grappling with extreme anxiety. To cope with these high costs, about one-fifth of people have reduced their healthcare coverage or opted for telehealth visits, while over one-tenth have chosen lower-cost providers.
When asked what changes would make healthcare more affordable, respondents cited lower drug prices (72%), free healthcare (62%), and transparent pricing (60%) as the top three priorities. These findings underscore the urgent need for reforms to address the rising costs of healthcare in the United States.
How expensive is healthcare in the US?
Healthcare in the United States is notably expensive compared to other similarly wealthy countries. In 2020, US health care costs reached about $13,493 per person, totaling $4.5 trillion This cost is significantly higher than in other high-income countries, with US healthcare costs being one-third higher or more relative to the size of the economy (GDP).
This financial burden leads to about half of US adults finding it difficult to afford healthcare costs, with one in four reporting problems paying for healthcare in the past year.