Survey Says: Adults Burdened by High Medical Bills
According to a survey released on Wednesday by the Commonwealth Fund, an increasing number of adults in the United States struggle to pay their medical bills, forced to dip into their savings accounts, home equity and credit cards to meet rising health care costs.
An estimated 72 million adults under age 65 have difficulty paying their medical bills or are paying off debt from health-care expenses, based on the survey, taken last year and released today by the health-policy center in New York. Sixty-one percent of those struggling said they had health insurance.
The report comes as U.S. consumers face rising financial pressures, including higher energy costs, food bills and mortgage payments.
"Obviously, this medical debt can push people over the edge who are already close to the edge," said Karen Davis, president of the private foundation that promotes better access to health care.
The survey of 3,501 adults was conducted from June 6 through October 24, 2007, and the results were compared with a similar study two years earlier.
Based on the newer survey, 28 million Americans used all their savings on medical expenses, 21 million built up substantial credit-card debt and 21 million couldn't pay for basics such as food, heat or rent.
Respondents reported making tough financial choices in order to pay their medical bills last year.
Published on August 20, 2008
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