The financial security of Americans regarding basic healthcare has hit a new low. The latest West Health-Gallup Healthcare Affordability Index reveals that only 51% of US adults feel capable of affording quality care, a drop from 61% in 2022.
This decline places nearly half of adults in categories of "Cost Insecure" or "Cost Desperate." A record 11% of Americans are now classified as "Cost Desperate," unable to pay for care, afford prescribed medicines, or access affordable treatment. This struggle is amplified for lower-income households, where 25% are "Cost Desperate," compared to just 1% of those earning over $180,000 annually.
Treatment patterns reflect these pressures, with 18% of adults reporting they or a family member skipped prescriptions due to cost. For households earning under $24,000, this figure jumps to 42%.
Furthermore, approximately 82 million US adults made significant "daily life trade-offs" in the past year to cover medical expenses, including rationing prescriptions or borrowing money. Experts call this a "systems failure" when families must choose between medical bills and essential living costs.
These healthcare affordability issues are also impacting long-term financial decisions, with many adults delaying medical procedures, career changes, home purchases, and retirement.