According to CNN, a new study has found that in the past year, Americans borrowed $88 billion to pay for health care. About 1 in 8 people had to borrow money to afford health care, according to the West Health-Gallup survey.
65 million adults said that although they had a health issue, they did not get treatment because of cost. A quarter of people had to cut back on their spending to buy medicine or pay for other health care costs.
"Not only do you have a real significant number that are deferring care, forgoing care altogether, you also have a big chunk that are getting the care but having to borrow to get it," said Dan Witters, Gallup senior researcher. "There are few Americans out there who are safe from the American health care cost crisis."
Although the U.S. spent over $10,700 per person on health care in 2017, which is more than any other country, America always ranks near the bottom of health indices among developed nations.
Trump has taken steps and proposed various ways to cut costs. Congress has worked to do the same.
"Particularly in today's political climate, all too often, we are focusing on the policies and legislation and not the problem that needs to be solved," said Tim Lash, chief strategy officer for West Health. West Health is a nonprofit organization that seeks to lower the cost of health care for seniors.
The survey found that Americans are not hopeful that costs will decrease. In fact, they more than 75 percent of people expect costs to increase in the next two years. 45 percent of Americans even said they think a major health event will leave them bankrupt.
The government hopes to make health care costs more transparent in order to lower prices. Many Americans don’t know the cost of emergency room visits before they go, or surgeries before they receive them.
In more positive news, almost half of the people surveyed think that the U.S. has the best or among the best quality of healthcare in the world.
Read the full story here.