Americans Have Had to Borrow $88 Billion to Cover Health Care Costs in the Past Year

A new survey from Gallup has some eye-popping findings.

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If you needed proof that Americans are going into debt to pay for medical treatment due to the United States’ deeply flawed healthcare system, look no further. Americans borrowed more than $88 billion in the past year to cover healthcare costs, with nearly 3 million individuals borrowing $10,000 or more, according to a new study conducted by Gallup and West Health.

The study, which surveyed more than 3,500 randomly selected adults, paints a stark picture of Americans’ concerns about healthcare costs. Almost half of those surveyed said they feared a major health event would leave them bankrupt, while 77% expressed concerns that rising healthcare costs would damage the U.S. economy. People who can’t afford to pay for healthcare either borrow money or forgo treatment altogether: the study estimates that 65 million adults who had a health issue last year did not seek treatment due to costs.

Americans spend more on health care than other citizens of other countries. Lots more. And despite the reforms of the Affordable Care Act, medical costs are still a factor in more than 66% of bankruptcies, according to a study published earlier this year in the American Journal of Public Health. One of the results of this is dysfunctional system is that more and more people are forced to turn to crowdfunding campaigns to pay for medical bills, like the dystopian popularity contests Stephen Marche wrote about last year. “America is becoming a country so free that everyone must beg to survive, and most will not beg well enough.”

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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