Updated: Jul 28
The Shocking Truth: How Many Families Struggle to Pay Medical Bills?
How Many Families Struggle to Pay Medical Bills?
Medical bills can be a heavy burden for many families. In this article, we delve into the statistics to uncover just how many families struggle to pay their medical bills.
According to a report from the Kaiser Family Foundation, around one in four Americans struggle to pay their medical bills. This can cause significant financial strain, with many people forced to make tough choices between paying for healthcare and other essential expenses such as rent and groceries.
The High Cost of Medical Care
One of the primary reasons why families struggle to pay medical bills is the high cost of healthcare in the United States. According to a study by the Commonwealth Fund, the U.S. spends more on healthcare than any other high-income country in the world. This includes spending on hospital care, physician and clinical services, prescription drugs, and other medical expenses.
In fact, in 2022, the U.S. spent $11,072 per person on healthcare. This is significantly more than countries like Canada, Australia, and Japan, which spent between $4,400 and $6,000 per person. These high costs can make it difficult for families to afford necessary medical care, leading to skipped appointments, untreated conditions, and mounting medical bills.
The Impact on Families
The burden of medical debt can be devastating for families. According to a report by the Consumer Financial Protection Bureau, medical bills are the most common cause of debt collection actions. This can lead to a range of negative consequences, such as damaged credit scores, wage garnishment, and even bankruptcy.
Furthermore, the stress of medical debt can take a toll on families' mental and physical health. A survey by the Kaiser Family Foundation found that over half of people who struggle to pay their medical bills report feeling stressed or worried about their bills, and nearly one in five say that medical bills have caused them to skip necessary healthcare.
The statistics are clear: medical bills can be a significant burden for families across the United States. If you're struggling with medical debt, know that you're not alone. Consider reaching out to organizations like Forgivey.com, which offer debt forgiveness services to help families get back on their feet. Don't let medical bills hold you back from getting the care you need and deserve.
For more information, check out Forgivey.com. We are a debt forgiveness agency that aims to help people struggling with debt. By becoming a member, we will buy your debt and forgive it. Say goodbye to harassing phone calls and threatening debt collectors, and hello to a fresh start. Join us today and let's work together to erase your debts at Forgivey.com.
Forgivey.com - Getting Americans Out of Debt
Disclaimer: This is not legal advice