By Claire Moraa
- U.S. adults who can readily access and afford quality health care has dropped to 55%, the lowest since 2021
- Younger adults have the highest uninsured rate at 15.6%
The rising cost of health care in the U.S. is becoming a critical issue as it now renders health care unaffordable for at least 47% of Americans. Access to affordable health care is essential for individuals to maintain their well-being and address medical needs. However, this is not the case. For every four people, one is unable to cater for their medical costs. Worse still, the demographic that is more vulnerable and at a higher risk of chronic conditions are those aged 50 and above and whose affordability index has dropped eight points.
Why This Matters: Basic healthcare should not be a preserve of the rich because it’s a basic human right. And even though Medicaid and Medicare may step in to cover the gaps, there’s still so much to be done. Reports show that many Americans, irrespective of their insurance are struggling to cover healthcare costs. This often leads to delayed or forgone care. Others are crippled with a significant medical debt. In fact, a significant number of debtors in U.S. hospitals have some sort of insurance cover. Which begs the question–Why is healthcare so expensive?
The U.S. is experiencing a surge in the aging population and a declining birth rate. And if the number of seniors increase, it prompts the cost of healthcare to also rise because there will be an increased overall demand for healthcare services. Further, this demographic often requires specialized and long-term care. Insurance covers cannot cover the costs fully so most of these people will have to cough up the extra out-of-pocket. With a good number not having saved for a rainy day, your guess is as good as mine. Younger adults aren’t any better. They’re struggling with the unemployment crisis so with their 15.6% uninsured rate, a good number will forego healthcare.
What’s Next: For policymakers, health care providers, and communities to address this dire situation, they need to explore solutions such as increasing access to affordable insurance options, lowering prescription drug costs, enhancing preventive care services, and ensuring equitable access to quality health care for all individuals. There’s also a need to focus on preventive care and health education in underserved areas.
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