Remember that show about a schoolteacher who became a meth kingpin to cover his medical bills? New Zealand’s Walter White wouldn’t have done that.
Some may not have appeared in past surveys or estimates due to how people deal with it — for example, 17% of people shuffle their debt to credit cards, while 21% pay over time directly to a provider.
The survey found that 42% owe $1k-$5k, while 24% owe more.
What that feels like depends on each debtor’s situation, and those who are low-income, uninsured, Black, Hispanic, women, or parents are often hit hardest.
Eighteen percent of debtors fear they’ll never pay it off. And debt has branching effects:
Medical bills can often be shockingly high, even for the insured.
The No Surprises Act seeks to prevent this, banning out-of-network bills for emergency care, supplemental care (e.g., anesthesiology, radiology), and out-of-network providers working at in-network facilities.
New transparency laws also require hospitals to post rates for 300 common services. However, as of February, only ~14% were compliant, per CNBC.
And the core issue remains: People can’t afford care, as both medical costs and deductibles have steadily increased.
BTW: Consumer Reports has some tips for avoiding high medical bills and dealing with them should they occur.
No comments on this item Please log in to comment by clicking here