Americans are deeply worried about the cost of health care
March 14, 2024
Source: Kearney, et al KFF February 24, 2024 LINK
KFF, formerly known as Kaiser Family Foundation, conducts periodic surveys assessing Americans’ attitudes toward health care policy and health care costs. Results published last month confirm that Americans are very worried about the impact of health care costs, and those worries extend to those who report that they are not currently in economic distress. The KFF poll includes a nationally representative survey panel of over 1300, some of whom (78) participated in Spanish. This study included people on Medicare, Medicaid, exchange plans, and employer sponsored health plans.
Nineteen percent of respondents said they had difficulty paying their monthly bills; 37% said they were “just” able to pay their monthly bills; and 44% said they were able to pay their monthly bills and had some money left over. The majority of even those who reported they were financially comfortable (the orange bar on the right of each cluster) were worried about unexpected medical bills and the cost of medical services.
Implications for employers:
Survey respondent concerns about the cost of care validate employer focus on controlling overall cost of medical care.
Concern about unexpected medical bills could indicate that some are underinsured, and face deductibles or out of pocket maximums which they feel put them in financial danger.
The survey shows concern about expenses in all aspects of household costs. This will likely increase pressure on employers to raise wages, especially as unemployment remains low and the labor supply is tight.