Most Patients Aren’t Budgeting for Health Care Costs

Health Care Dive: “Recent efforts to improve healthcare quality and reduce costs have made patient education and engagement a core component. For instance, wellness programs offered by payers and employers intend to help patients stop smoking, lose weight, manage chronic conditions and seek preventive health screenings. However, patient education and education initiatives have mostly ignored one area where patients could use some help: budgeting for healthcare costs.”

A new Amino/Ipsos survey found the following:

  • Nearly two-thirds of 1,006 respondents said that receiving a medical bill they cannot afford is as bad or even worse than being diagnosed with a serious medical condition.
  • More than a third said that they would not be able to afford a medical bill of $100 or more without taking on debt and fewer than a quarter said they would be able to afford a medical bill of $2,000 or more.
  • Fewer than a half of respondents said that they set aside $50 or more each month for healthcare costs, although fewer than 15% budgeting for healthcare were developing an emergency fund.

For more information on the issues surrounding medical debt, please contact RIP Medical Debt.