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Some of that credit card debt no doubt has medicalbills associated with it. Furthermore, JPMorgan Chase has analyzed over 1 million accounts and found people using their tax refunds to pay for past medical spending. For context, most people in the U.S. couldn’t pay that $503 out of a current savings account.
84% of Americans told the Foundation that they were concerned about how much health care costs will affect them in the future, with 42% of patients saying they couldn’t afford to pay over $500 for an unexpected medicalbill. Hospital costs contribute to rising medical costs to 49% of health consumers.
I’ve covered this study every year since 2011 here in Health Populi, continuing to add to this bar chart; in the interest of space and legibility, I started this year’s version of the chart at 2014, when the cost for a couple was gauged at $220K.
To determine whether unpaid medicalbilling data should be included in credit reports. We come full circle with this third recommendation from CFPB with the Equifax-Experian-TransUnion plan to reduce most medical debt from patients’ credit reports.
While customer satisfaction with health insurance plans slightly increased between 2018 and 2019, patient satisfaction with hospitals fell in all three settings where care is delivered — inpatient, outpatient, and the emergency room, according to the 2018-2019 ACSI Finance, Insurance and Health Care Report.
2017 reversed advancements in health insurance coverage increases since the advent of the Affordable Care Act, and for the first time since 2014 no states’ uninsured rates fell. One-third of people with individual health insurance coverage told the Fund their healthcare has become harder to afford over the past 12 months.
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