Healthcare costs soar as more Americans carry on medical debt
In this DML Report…
A record 91 million U.S. adults—over a third of the population—cannot access quality healthcare, per the West Health-Gallup Healthcare Affordability Index, while health insurance companies rake in soaring profits. Federal healthcare spending hit $4.9 trillion in 2023, or $14,570 per person, yet 26 million Americans remain uninsured, and 70 million avoid doctor visits due to costs, with four in ten adults carrying medical debt. Hispanic Americans are hardest hit, with 52% unable to afford care, followed by Black Americans at 46%, compared to 39% of White adults.
The survey labels 29 million Americans—11%—as “cost desperate,” unable to access any healthcare services, a record high, while nearly four in ten are “cost insecure,” struggling with payments. Uninsured primary care visits cost $150-$300, versus $10-$50 copays with insurance, driving a widening gap researchers attribute to medical inflation, drug shortages, and cuts to Medicaid and CHIP enrollment.
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Health insurance profits are climbing, with companies like UnitedHealth Group expecting $450 billion in 2025 revenue, yet the affordability crisis deepens. West Health’s Tim Lash insists only government policy shifts can close the gap, as consumer costs spiral—premiums up 47% and deductibles 68% from 2011 to 2021. The data, collected from 6,296 adults across all 50 states and D.C. between November 18 and December 27, 2024, underscores a healthcare system failing millions.