46% of Americans have been in debt due to hospital bills

Young adults between the ages of 25 and 34 struggle the most with costs, with 56% saying they will struggle or struggle to pay for health care maintenance costs. Forty-eight percent said the same for emergency needs and 55% said the same for private health insurance. Additionally, 10% said they would not be able to afford the costs if they suffered a medical emergency, while only 11% could only afford up to $50, and a further 11% would be able to afford it. up to $100.

These results underscore the detrimental impact of health care costs, especially as out-of-pocket spending growth is expected to continue accelerating to 6.1% from 4.2% in 2022, according to the Centers for Medicare and Medicaid. Services (CMS). Additionally, only 38% of Americans said they have a dedicated savings fund for medical emergencies.

“The crisis in healthcare affordability in the United States is particularly worrisome given economic market inflation,” said Ali Parsa, CEO and Founder of Babylon, said in a press release. “Patients are struggling to pay their maintenance costs and a significant number of people are unable to afford out-of-pocket medical expenses in the event of a medical emergency. The US healthcare system must change to make high-quality healthcare affordable for people at all income levels. Health care is not a luxury, it is a basic requirement.

The survey also comes as virtual healthcare solutions have become more common. At the height of the COVID-19 pandemic, demand for telehealth skyrocketed as offices temporarily closed. Not only has telehealth acted as a necessary adjunct during the pandemic, but it can also be significantly less expensive than traditional in-person care, potentially bringing relief to Americans.

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John A. Bogar