Health Care Costs are a Big Concern for Americans

April 29, 2024

For years, health care costs have remained a pressing concern for American families, shaping business and household budgets and even influencing decisions about paying for groceries or paying for prescriptions.

The latest data from KFF shows just how much health care expenses can put a burden on individuals and households. According to KFF, approximately half of U.S. adults find it challenging to afford health care costs, with 1 in 4 people reporting difficulties paying for care within the past year. This burden disproportionately affects younger adults, those with lower incomes, individuals in fair or poor health, and the uninsured.

Prescription drugs pose significant affordability challenges. Nearly one-third of adults report difficulty affording medications, with cost-related barriers leading some to skip filling prescriptions or resort to over-the-counter alternatives. Even those with health insurance coverage are not immune to the financial strain of health care costs. While health insurance covers a portion of treatment and drug costs, premiums reflect the cost of medical care.  Higher prices ultimately leads to higher out-of-pocket expenses and adds to the cost of health insurance overall, causing many individuals to rate their coverage as “fair” or “poor” when it comes to affordability, highlighting a major source of ongoing tension within the health care system.

What about you – are your prescriptions affordable? Do you skip appointments because you’re concerned about the costs? Share with us here.