In an alarming revelation, a bombshell report shows that record numbers of hardworking Americans are being crushed under the weight of unaffordable healthcare costs.
Despite nearly $5 trillion in federal healthcare spending in 2023 ($14,570 per person), over one-third of U.S. adults — roughly 91 million Americans — cannot access quality healthcare when needed.
The alarming statistics come from a thorough Gallup report that reveals the devastating impact of skyrocketing medical costs on everyday Americans.
As of now, the percentage of Americans considered “cost secure” in healthcare has plummeted to just 51%, the lowest since 2021.
Even more disturbing, a record 11% (around 29 million people) are now classified as “cost desperate.”
This means 11% of Americans have skipped necessary medical care and medications multiple times in the past year due to cost.
Hispanic Americans face the most severe impact, with a staggering 52% unable to afford quality healthcare, followed by Black Americans at 46%.
The percentage of Hispanic adults considered “cost secure” has plummeted 17 points since 2021, dropping to just 34%.
Low-income Americans are suffering the most. A shocking 64% of people earning less than $24,000 annually and 57% of those earning between $24,000 and $48,000 struggle to afford basic healthcare.
Only 23% of households in the lowest income bracket are now considered “cost secure” — a dramatic 14-point drop since 2021.
As Dan Witters from West Health notes, “Healthcare affordability and access continue to erode nationally, and this issue is especially acute among Black, Hispanic, and lower-income adults.”
Despite trillions of taxpayer dollars spent on a broken system, nearly 40% of Americans are classified as “cost insecure,” struggling with either affordability or access to healthcare.
Four in ten adults are burdened with debt from unpaid medical or dental bills, and over 70 million Americans avoid doctor visits entirely due to high costs.
The financial burden has become so severe that 12% of adults borrowed money to pay for healthcare in 2024, amounting to an estimated $74 billion in medical debt.
Nearly 60% of Americans live in fear of going into debt due to a major medical event.
While Americans struggle to afford basic care, drug prices continue to rise.
Pharmaceutical companies have increased prices for over 770 medications, including critical treatments for diabetes and cancer.
The figures are staggering: 26 million Americans remain completely uninsured and millions more cannot afford to use the insurance they have.
