Survey: Almost half of Americans struggle to afford healthcare

Editor's Note

Nearly half of Americans struggle to afford health care and prescription medications, according to the latest Healthcare Affordability Index from West Health and Gallup. Newsweek reported on the findings July 17.

Based on polling of 5,149 adults, the index shows a decline in affordability by six points since 2022, reaching a record low of 55 percent. This decline particularly affects adults aged 50-64 and those 65 and older, both down eight points to 55 percent and 71 percent respectively. Adults under 50 are the most affected, with 53 percent unable to cover their bills, a decrease of five points from 2022. “However, the age group most struggling to afford health care is adults under 50—with 53 percent unable to cover their bills, down five points from 2022,” Newsweek reports.

The survey also highlights significant disparities, with Black and Hispanic adults and women being more likely to be cost-desperate compared to their white and male counterparts. Additionally, 11 percent of women were classified as cost desperate, compared to 6 percent of men, Newsweek reports.

Overall, the survey found that 45 percent of American adults are either cost insecure or desperate, compared to 39 percent in 2022 and 44 percent in 2011, Newsweek reports.

Despite the decline in affordability, public satisfaction with the value of health care relative to its cost has increased by 9 percent since 2021. However, 36 percent of U.S. adults still believe they are being overcharged.

The Inflation Reduction Act, which includes provisions for Medicare to negotiate lower drug prices, is seen as a potential measure to improve affordability.